The board of directors of Earthasia International Holdings Limited reported that based on the preliminary review on the unaudited management accounts of the Group for the year ended 31 December 2016 and the information currently available to the Board, the Group expects to record a net loss for the year ended 31 December 2016 as compared with the net profit recorded for the year ended 31 December 2015. The loss are primarily resulted from the decrease in revenue; the increase in provision for trade receivables; the increase in administrative and other expenses including the one-time share award expenses and share option expenses; and the devaluation of Renminbi.