China Baofeng (International) Limited provided consolidated earnings guidance for the six months ended June 30, 2016. For the period, the group expected to record a loss for the six months ended 30 June 2016 as compared to the unaudited profit of approximately HKD 9,137,000 for the six months ended 30 June 2015. The loss of the company for the first half of 2016 was mainly due to the decrease in margin of the existing business and the increase in administrative expenses for the development of new business and other professional fees for the first half of 2016.