Nine Express Limited announced that based on the preliminary assessment of the unaudited consolidated management accounts for the year ended 31 December 2016, the Group is expected to record a consolidated net loss attributable to the owners of the company of approximately HKD 328,714,000 as compared with net loss attributable to owners of the company of approximately HKD 643,538,000 for the year ended 31 December 2015. The loss is mainly attributable to: (i) a fair value loss on investment properties of approximately HKD 21,445,000 recognised; (ii) an impairment loss on investment in an associate of approximately HKD 148,674,000 recognised; (iii) written down of value of the property development in progress of approximately HKD 46,953,000 recognised; (iv) an impairment loss on available-for-sale financial assets of approximately HKD 20,008,000 recognised; (v) a loss on deemed disp osal of an associate of approximately HKD 61,222,000 recognised; and (vi) a provision for PRC capital gains tax in relation to an acquisition of interests in an associate of approximately HKD 28,200,000 recognised.