The board of directors of the Milan Station Holdings Limited informed the shareholders of the company and potential investors that, based on the information (including the group's unaudited management accounts for the ten months ended 31 October 2013) currently available, the group is expected to record a significant loss for the year ending December 31, 2013 as compared to the corresponding year in 2012. The expected loss is primarily attributable to the continuing slowdown in the retail market for luxury handbags and the weakened consumption sentiment of customers in 2013.