Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited board of directors of the Company expected to return to profit for the year ended 31 December 2015 as compared to a loss of RMB 358.7 million for the year ended 31 December 2014. The return to profitability in 2015 was primarily attributed to the increase in fair value gain on the Group's investment properties, whereas the Group's steel pipe business operations experienced downturn for two years and recorded a loss in 2015. The steel pipe business began to pick up from the bottom in late 2015.