SkyOcean International Holdings Limited provided earnings guidance for the year ended 31 December 2014. The company is expected to record a loss attributable to the Shareholders of approximately HKD 137 million for the year ended 31 December 2014 as compared to a profit attributable to the Shareholders of approximately HKD 29 million for the year ended 31 December 2013. The expected loss is primarily attributable to (i) the penalty of approximately HKD 85 million borne by a 90% indirectly-held subsidiary of the Company and accrued up to 31 December 2014 for the overdue payment of consideration for the acquisition of certain land use rights in Beijing, the PRC, as announced by the company on 29 July 2014; and (ii) the increase in operating cost incurred by the group's property development segment.

Subsequent to 31 December 2014, the group has paid up the Land Consideration. Revenue from the group's property development segment will be generated upon the sales of the ‘4th Generation Skyocean City' urban complex project which is expected to commence in 2015.