Lee & Man Handbags Holding Limited provided earnings guidance for the year ending December 31, 2014. Based on the currently available information, the Board announced that the amount of the net profit for the year ending 31 December 2014 is expected to decrease by more than 55%, as compared with the amount of the net profit of HKD 72,380,000 for the year ended 31 December 2013. The Directors believe that the significant decrease in the amount of the net profit for the year ending 31 December 2014 is mainly attributable to cheaper goods exported by the manufacturers from Philippines, Vietnam and other countries which resulted in serious pressure on its selling prices as well as rising labour costs in China.