The board of directors of China Partytime Culture Holdings Limited announced that based on the information currently available to the Group and the preliminary assessment by the Company's management with reference to the unaudited management accounts of the Group for the year ended 31 December 2016, the Group is expected to record a decrease in net profit and net profit attributable to equity holders of the Company of not more than 20% and 17% respectively for the year ended 31 December 2016 as compared with that for the year ended 31 December 2015. Such decrease is primarily attributable to a decrease in turnover by approximately 10% for the year ended 31 December 2016 as compared to that for the year ended 31 December 2015 due to the drop in the oversea markets' demand as affected by Brexit and US presidential election during the year ended 31 December 2016; and the increase in research and development expenses for the development of the PRC market, such as enhancement of the products variety and different patents and technique.