China Chengtong Development Group Limited provided preliminary consolidated earnings guidance for the year 2015. For the year, the company is expected to record a consolidated profit after tax of approximately HKD 76 million for fiscal year 2015 as compared to a consolidated loss after tax of the company of approximately HKD 96.26 million for fiscal year 2014. The main reasons for the profit recorded in fiscal year 2015 are as follows: (i) there was an increase in the income from the financial lease business which has resumed during fiscal year 2015; (ii) the cessation of the bulk commodity trade business in fiscal year 2015 has led to a decrease in the relevant operating expenses and finance costs; (iii) the depreciation of Renminbi in fiscal year 2015 has led to an exchange gain arising from the Renminbi liabilities; and (iv) a prepayment in the amount of approximately HKD 16.86 million that had been impaired in previous years was reversed during fiscal year 2015.
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