The board of directors of Maoye International Holdings Limited informed the shareholders of the company and potential investors that the Group expects to record approximately RMB 200 million to RMB 250 million in its net profit attributable to equity holders of the company for the year ended 31 December 2015, representing a decrease as compared to that for the corresponding period in 2014. Such decrease is mainly attributable to 1 in the fiscal year 2014, the company recognized a one-off net profit of RMB 782 million from the deemed disposal of Maoye Logistics Corporation Ltd. (now known as Maoye Communication and Network); 2 the decrease in revenue of the Group from the operation of department stores due to the overall slowdown of the retail industry in the People's Republic of China; 3 the increase in finance cost of the Group; 4 the significant depreciation of Renminbi against United States Dollars for the year ended 31 December 2015 as a result of which the Group suffered an exchange loss for the year ended 31 December 2015, while an exchange gain of RMB 30,438,000 was recorded for the year ended 31 December 2014.