Honbridge Holdings Limited expected to record approximately HKD 230 million (over 1,200% increase) revenue for the year ended 31 December 2018 as compared to the approximately HKD 17 million revenue for the year ended 31 December 2017 because of the commencement of mass production of the new Zhejiang Forever New Energy lithium-ion battery project. Although the lithium-ion battery business was still in a loss position, as compared to the year ended 31 December 2017, increase in profit attributable to owners of the Company for the year ended 31 December 2018 is expected. The significant profit was mainly attributable to the increase in the fair value of the exploration and evaluation assets in relation to the Sul Americana de Metais S.A. ("SAM") project preliminarily due to the substantial decrease in the forecast capital expenditure (CAPEX) and increase in forecast selling price of the iron concentrate products which led to a significant reverse of impairment of exploration and evaluation assets for the year ended 31 December 2018. The reverse of impairment was partially set- off by the impairment loss on the loan receivables in relation to the loan to Cloudrider Limited and the impairment loss on the trade receivables in relation to the Shandong lithium-ion battery project for the year ended 31 December 2018.