Lai Sun Development Co. Ltd. provided earnings guidance for the year ended July 31, 2016. For the period, the group has recently arranged valuation of certain properties in Hong Kong for bank loan refinancing purpose. Based on the valuation of those properties as at 31 May 2016, it is expected that there will not be any substantial increase in valuations of the Group's investment properties for the second half of the current financial year. The board of directors of the company informed shareholders of the company and potential investors that the profit attributable to the equity holders of the Company for the year ended 31 July 2016 are expected to record a significant decrease from that of approximately HKD 2,018 million for the year ended 31 July 2015. The expected decrease in profit attributable to owners of the company for the year is primarily due to a substantially lower revaluation of the Group's investment properties during the year under review. The underlying profit excluding revaluation of the Group's investment properties is expected to be steady. Therefore, a substantial decrease in the consolidated profit attributable to owners of the company as compared to the same last year is expected. The revaluation of the Group's investment properties is a non-cash item and will not have a direct impact on the cash flow of the Group.