The board of directors of Elegance Optical International Holdings Limited informed the shareholders of the company and potential investors that based on the information available, the Group is expected to record a significant increase in the loss for the six months ended 30 September 2014 compared to the loss of approximately HKD 30.78 million of the same period last year. The range of factors attributable to the increase in the loss includes, among others, reduced sales which is roughly 34% less than last year, a significant increase in operating costs and labour costs following further increase of minimum wages in the Mainland China in 2014, together with the need to make a provision on the receivables of a customer which amount to HKD 9.3 million due to uncertainty of its collectability.