The board of directors of the China Partytime Culture Holdings Limited provided unaudited management accounts of the Group for the ten months ended 31 October 2017, the group expects to record a substantial decrease in the net profit for the year ended 31 December 2017 as compared with that for the year ended 31 December 2016. Such decrease is primarily attributable to a decline in turnover due to a drop in the demand of the Group's products in overseas markets; an increase in the costs for certain major raw material and packaging material; and as mentioned in the interim report, there was an increase in research and development expenses for the enhancement of product variety and the development of patents and techniques for the PRC market.