Evergreen International Holdings Limited based on the preliminary review of the Group's unaudited consolidated management accounts for the 11 months ended 30 November 2014 and the information available at that time, the Group expected to record a significant decrease in the consolidated profit attributable to the ordinary equity holders of the Company for the year ended 31 December 2014 as compared to that for the year ended 31 December 2013. The expected decrease in the consolidated profit attributable to the ordinary equity holders of the Company was mainly attributable to the decrease in revenue as a result of worsening market condition, continued sluggish retail environment and rapid growth of e-Commerce; the increase in administrative and other expenses including but not limited to the increase in staff cost in connection with the Group's business expansion and development; and the increase in interest on bank borrowings as a result of the increase in interest-bearing bank borrowings for supporting the Group's business expansion and development. The Board updated the shareholders of the Company and potential investors that upon further review by the Company of the latest unaudited consolidated management accounts and currently available information, it is expected that the Company would record a loss for the year ended 31 December 2014.

The loss is mainly attributable to the recognition of impairment on the carrying amount of certain available-for-sale investment.