Tianjin Binhai Teda Logistics (Group) Corporation Limited provided group earnings guidance for the first quarter ended March 31, 2017. For the quarter, the company announced that, based on the initial assessment of the group's unaudited management accounts, the group may record a loss of approximately RMB 4,000,000 for the three months ended 31 March 2017, and the unaudited profit attributable to the owners of the company for the three months ended 31 March 2016 of the group was approximately RMB 1,640,000. The board considers that the aforesaid expected loss is mainly due to the loss of operating result of the branch company in Changshu City of the Company since its business is still in the initial establishment stage, and therefore its income is still unable to cover the fixed costs; the phasic loss of operating result for the first quarter of Tianjin Yuan Da Xian Dai Logistics Co. Ltd., a subsidiary of the company, as a result of the decrease in cargo traffic and warehouse maintenance; the decrease in operating result of Tianjin Alps Teda Logistics Co. Ltd. and Dalian Alps Teda Logistics Co. Ltd. (both joint ventures of the Company) as compared with the corresponding period last year as a result of the exchange rate fluctuations; and the increase in financial costs as compared with the corresponding period last year as a result of the increased medium/long-term financing of the Company for more stable sources of funding in response to tight short-term currency and capital market.