Shougang Concord International Enterprises Company Limited provided earnings guidance for the six months ended June 30, 2017. For the period the group would record consolidated profit attributable to the Shareholders for the 2017 Interim Period in the range of between HKD 130 million and HKD 160 million as opposed to the consolidated loss attributable to the Shareholders of HKD 926 million for the six months ended 30 June 2016. This turnaround from loss to profit is mainly attributable to (i) the completion of the disposal of Qinhuangdao business in late 2016. The loss attributable to the Qinhuangdao Business amounted to HKD 541 million for the Last Interim Period whereas no such loss was incurred in the 2017 Interim Period after the disposal; (ii) the impairment loss of HKD 257 million on the goodwill in relation to the investment in Shougang Fushan Resources Group Limited was made for the Last Interim Period whereas no such loss was made in the 2017 Interim Period according to the preliminary assessment at the moment; and (iii) the substantial improvement in the results of the associates of the Company. It is expected that the Group will share a profit of its associates in this 2017 Interim Period as compared to the share of losses of associates of HKD 114 million in the Last Interim Period.