HongDa Financial Holding Limited announced that the Group will, notwithstanding the significant increase in operating revenue, potentially record further loss for the year ended December 31, 2016 as compared to the loss for the year ended December 31, 2015. The expected further loss for fiscal 2016 was mainly attributable to the impairment of goodwill and intangible assets after reviewing the overall performance of the whole year, the impairment of available for sale investment and the significant increase in finance costs in the second half of the year. Despite the above, the Board considers that the overall financial position remains sound and the business operation of the Group is on steady growth.