China Water Industry Group Limited provided earnings guidance for the year ended December 31, 2017. For the year, the company expected record an approximately 80% to 90% decrease in net profit for the year ended 31 December 2017 as compared to a net profit of HKD 84.90 million for the corresponding period of 2016. Despite the group recorded a gross profit growth generated from renewable energy business and an increase in other operating income mainly arising from upgrading landfill gas collection facilities project and refund of value added tax which made positive contributions to the group 's profit in 2017, the group still recorded the decrease in net profit in fiscal year of 2017 which was principally attributable to: (i) a realized loss on disposal of investment fund and listed equity securities; (ii) fair value loss on group's financial assets; (iii) an increase in administrative expense and finance costs due to the acquisition and establishment new renewable energy companies; and (iv) a possible impairment loss provided on individual renewable energy projects.