The board of directors of Gemdale Properties and Investment Corporation Limited informed the shareholders of the company and potential investors that, based on the preliminary review of the consolidated management accounts of the Group for the year ended 31 December 2015, the group is expected to record an increase by more than 160% in its profit attributable to owners of the company for the year ended 31 December 2015 (2015 unaudited estimate) from RMB 360.9 million in the previous year. Based on the information currently available, the substantial improvement in profit attributable to owners of the company is mainly due to: the substantial increase in the recognition of sales revenue from the delivery of properties to customers; the substantial increase in sales revenue recognition from investments in joint ventures; and the substantial increase in revaluation gain of its investment properties which increased from RMB 155 million in 2014 to RMB 244 million in 2015.