China Modern Dairy Holdings Ltd. provided earnings guidance for the six months ending June 30, 2017. For the period, the company expected that the Group will record a consolidated net loss attributable to the equity holders of the company of not less than RMB 500 million against of RMB 566 million in June 30, 2016. It is mainly due to the market price for raw milk in china stayed at a relatively low level in the first half of 2017 comparing with same period last year. The selling price of raw milk of the company reduced by approximately 11% in the first half of 2017 comparing with same period last year; a non-cash loss arising from the cancellation of share options granted by the company to the management following the closing of the mandatory cash offer made by China Mengniu Dairy Company Limited to acquire all the issued shares, and to cancel all the outstanding options in the company on March 21, 2017; and allowance for doubtful debts in relation to the trade receivables of the group.