The board of directors of China Uptown Group Company Limited expected that the Group would record a loss and a substantial decline in the revenue as compared to the profit attributable to owners of the company of approximately RMB 181,968,000 and revenue of approximately RMB 580,481,000 in the corresponding period in 2013. The significant decline in the profit and the revenue is mainly due to the following reasons: the company has disposed a non-wholly owned subsidiary engaged in property development business in Zhuhai City, Guangdong Province, the People's Republic of China in mid 2013. Furthermore, the company has entered into a sales and purchase agreement to acquire 100% equity interest of a PRC company which owned 90% equity interest of another PRC company engaged in property development business in Maoming City, Guangdong Province.