The board of Directors of Cheuk Nang (Holdings) Limited is expected to record a profit attributable to the owners of the Company for the six months ended 31 December 2016 as compared to the loss for the six months ended 31 December 2015. The expected increase in profit attributable to the owners of the Company for the six months ended 31 December 2016 is mainly due to the revenue of HKD 1,645,748,000 for the sale of the properties in Shenzhen (for the six months ended 31 December 2015: Nil) which was partly offset by the following: a decrease in change in fair value of investment properties of HKD 20,958,000 (for the six months ended 31 December 2015: increase of HKD 16,935,000); an increase in administrative expenses of HKD 66,076,000 (for the six months ended 31 December 2015: HKD 25,903,000); and an increase in income tax expense due to the sale of the properties in Shenzhen of HKD 868,502,000 (for the six months ended 31 December 2015: HKD 4,450,000).