The board of directors of the China Household Holdings Limited announced that based on preliminary review of the unaudited management accounts of the Group and information currently available to the Board, the Group is expected to record a consolidated net loss for the year ended December 31, 2014 as compared to a consolidated net profit for the year ended December 31, 2013. The Board considers that the Group's financial performance has been affected mainly by reasons that: the recognition of an impairment loss of approximately HKD 733 million on the valuation of exploration and evaluation assets arising from the acquisition of an iron and titanium dioxide mine with a total mining area of 7.8892 km2 located at Ziyang Country, Shaanxi Province, the PRC in 2010; and the recognition of an impairment loss of approximately HKD 130 million in respect of goodwill arising from the acquisition of m3 Technology Development Limited (‘m3') in 2012.