The board of directors of China Qinfa Group Limited informed the shareholders of the Company and potential investors that, based on information currently available to the Company and the preliminary review on the Group's unaudited consolidated management accounts for the year ended 31 December 2017, the Group is expected to record a profit attributable to equity shareholders of the Company for the year ended 31 December 2017 not less than RMB 3 billion, as compared to loss attributable to equity shareholders of the Company of approximately RMB 331 million for the year ended 31 December 2016. The consolidated profit attributable to equity shareholders of the Company for the year ended 31 December 2017 was mainly attributable to the reversal of impairment losses on property, plant and equipment and coal mining rights, and the improvement on the operating results.