The board of directors of the Skyfame Realty (Holdings) Limited announced that the shareholders of the company and potential investors that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2016, the Group is expected to record a profit attributable to owners of the company for the 2016, as opposed to a loss of approximately RMB 212 million for the year ended 31 December 2015. The turnaround to profit is primarily attributable to the higher level of recorded property sales that were delivered to buyers upon the completion of Tianhe Project and the first lot of Nanning Skyfame Garden Project during the year.