The board of directors of the China ITS (Holdings) Co., Ltd. announced the group's unaudited consolidated management accounts, the revenue and the amount of new contracts signed of the Group for the six months ended June 30, 2014 are expected to decline as compared to the revenue and the amount of new contracts signed of the Group, respectively, for the six months ended June 30, 2013. As a result of the decline in the Group's revenue and new contracts signed, the Company is expected to record a lower gross profit and a net loss, for the Interim period, as compared to the gross profit and net profit of the group for the six months ended June 30, 2013. The Company considers that such decline in the Group's financial results was mainly attributable to the overall industry slowdown in the urban traffic sector, progress delay in the expressway sector and a one-off financial write-off as a result of a subsidiary disposal.