Beijing Properties Holdings Limited provided earnings guidance for the year ended December 31, 2013. The board of directors of the Company informed the shareholders of the Company and potential investors that based on the management's preliminary assessment of the management accounts and information currently available, the Company and its subsidiaries is expected to record a consolidated net profit for the year ended 31 December 2013, as compared to a consolidated net loss for the same corresponding period in 2012. The expected consolidated net profit is principally due to the recognition of provision for litigations written back details as announced on 9 December 2013; and the gain on bargain purchase arising from acquisitions which is principally related to valuation gains of the properties indirectly acquired.