Shougang Fushan Resources Group Limited announced that subject to the approvals of the audit committee of the company and the Board at the respective meetings to be held in late August 2014, it is expected that an impairment loss of approximately HKD 300 million will be made on carrying amount of goodwill of the subsidiary of the company as at June 30, 2014; the operating profit of the Group for the six months ended June 30, 2014 is expected to decline significantly by approximately 98% as compared to that for the corresponding period of last year. Such decline is primarily attributable to drop in the average realized selling prices of the Group's principal products, that is raw and clean coking coal, following slump in their market prices; and the substantial decrease in the sales volume of raw coking coal under the current weak coal market situation, the impact of which has overridden the impact of the increase of sales volume in clean coking coal; and due to the depreciation in Renminbi, the Group suffered an unrealized related foreign exchange loss of approximately HKD 120 million mainly arising from the translation of its monetary assets (mainly cash) denominated in Renminbi into Hong Kong dollars as at June 30, 2014. Taking into account of the impairment loss and the foreign exchange loss, it is expected that the company will record a consolidated loss for the six months ended June 30, 2014.