Kingboard Chemical Holdings Limited provided earnings guidance for the year ended December 31, 2016. The board of directors of the company announced that, based on the preliminary review of the unaudited management accounts of KBC Group (including KBL Group) for the year ended December 31, 2016 and the information currently available to KBC Board, KBC Group is expecting to record a significant increase in the net profit of approximately 190-200% for the year ended December 31, 2016 as compared with the corresponding period of 2015. The expected increase in the net profit of the KBC Group is mainly attributable to an one-off income attributable to the disposal of a wholly-owned subsidiary by KBL in May 2016, as more particularly disclosed in the joint announcement of KBC and KBL dated May 13, 2016. Without taking into account the aforesaid one-off income, the increase in net profit of KBC Group is expected to be approximately 90-100% for the year ended December 31, 2016 as compare with the corresponding period of 2015. The expected increase in the net profit of the KBC Group is mainly attributable to: strong sales in residential properties resulting in a significant increase in the recognition of sales of residential properties in its property development business; and the general increase in profit margin of the products manufactured and sold by the KBC Group.