Joy City Property Limited announced that based on the unaudited consolidated management accounts of the group for the year ended December 31, 2014 and other information currently available, the board of directors of the company reported that it is expected to record an approximately 45% to 50% decrease in the consolidated profit for the year ended December 31, 2014, as compared to that recorded in the unaudited pro forma consolidated financial information of the company for the year ended December 31, 2013 which had taken into account of the operating results of the Joy City Projects. Approximately 90% of the expected decrease in profit was attributable to the expected lesser increase in the fair value of the group's investment properties for the year ended December 31, 2014 as compared to that recorded in the unaudited pro forma consolidated financial information of the company for the year ended December 31, 2013.