The board of directors of China Shipping Development Company Limited announced that based on the preliminary assessment by the Board of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2016, the Group expects its net profit attributable to the equity holders of the company to be a significant increase of approximately 100% to 150% of profits as compared to a net profit of approximately RMB 837 million attributable to the equity holders of the company for the same six months ended 30 June 2015. The net profit attributable to the equity holders of the company for the six months ended 30 June 2015 was RMB 299 million before adjustment.