Ruixin International Holdings Limited provided earnings guidance for the six months ended 30 June 2016. The board of directors of the company announced that the Group is expected to report an estimated loss of around HKD 44.0 million for the six months ended 30 June 2016, as compared with the profit of approximately HKD 8.1 million for the six months ended 30 June 2015. The turn from profit to loss was mainly due to, among others, the gain on modification of terms of convertible notes in the Corresponding Period but not in the Reporting Period; the recognition of tax expenses in relation to the Hong Kong Inland Revenue Department enquiries of the Hong Kong Profits Tax of a subsidiary of the Company in respect of the years of assessment 2006/07 to 2014/15 in the Reporting Period.