The Board of Zhejiang RuiYuan Intelligent Control Technology Company Limited informed the shareholders and potential investors that based on the preliminary review of the management accounts of the group for the year ended 31 December 2016, it is expected that the group may record a net loss attributable to the shareholders of the company for the year ended 31 December 2016 as compared to the profit for the year ended 31 December 2015. The main reason for the group to turn profit into loss was that while there was a non-recurring item of waiver of other payables, accruals.