Madex International Holdings Limited provided earnings guidance for the six months ended June 30, 2012. Based on the preliminary review of the unaudited management accounts of the Group, it is expected that the Group would record a loss for the six months ended June 30, 2012 as compared to a profit for the corresponding period in 2011. The Board believes that the expected loss of the Group was mainly attributable to the loss on change in fair value of the convertible notes of the Group.