Xiwang Special Steel Company Limited revised consolidated earnings guidance for the year ended 31 December 2017. The Xiwang Special Steel Company Limited dated 9 January 2018, in which the company announced that the consolidated profit attributable to the shareholders of the company for the year ended 31 December 2017 is expected to increase by more than 150% as compared with that for the year ended 31 December 2016 (RMB 332.6 million). The board of directors of the company announced that Xiwang Metal Science & Technology Company Ltd, has obtained the High and New Technology Enterprise Certificate (No. GR201737001201) jointly issued by the Shandong Provincial Department of Science and Technology, the Shandong Provincial Department of Finance, the Shandong Provincial Office of the State Administration of Taxation and the Shandong Provincial Local Taxation Bureau. The certificate was effective from 28 December 2017 and is valid for three years. The Board is of the opinion that the relatively low enterprise income tax rate of Xiwang Metal Science will have a positive impact on the operation results of the Group. With this preferential tax concession, the unaudited consolidated profit attributable to the shareholders of the company for the year ended 31 December 2017 is expected to be approximate RMB 890 million representing an expected increase by more than 165% as compared with that for the year ended 31 December 2016 (RMB 332.6 million).