Global Mastermind Holdings Limited provided earnings guidance for the six months ended 30 June 2016. For the six months, the company expected unaudited consolidated loss of not less than HKD 33,000,000 for the six months ended 30 June 2016 as compared to the loss of HKD 8,353,000 recorded in the six months ended 30 June 2015. The increase in loss is mainly attributable to an estimated loss of HKD 5,500,000 arising on change in fair value of financial assets at fair value through profit or loss for the six months ended 30 June 2016; the absence of the revenue on the sales of hotel rooms in the current period; and an impairment loss of HKD 11,400,000 on available-for-sale investments due to a significant decline in such investments fair value which was recognised in profit or loss during the three-months ended 31 March 2016.

For the six months, the company expects impairment loss on intangible assets of HKD 8,000,000 due to the carrying amounts of the intangible assets were higher than their recoverable amounts as at 30 June 2016.