SOCAM Development Limited provided earnings guidance for the six months ended 30 June 2017. For the period, the Group expects to record a substantial reduction in net loss of approximately HKD 500 million, or around 70% as compared to the net loss of HKD 711 million for the corresponding period in 2016. The expected substantial reduction in net loss for the 2017 Interim Period is mainly attributable to: the absence of the significant impairment loss provided in the 2016 Interim Period on the residential inventory of the Group's 81%-owned Chengdu Centropolitan project, which was almost completely sold in 2016; substantial improvement in the financial results of the Group's 22%-owned Dalian Tiandi joint venture due to marked increase in the sales of residential stock of the project at higher prices and less impairment loss provision on its property assets as a result of improving property market conditions; higher profit from the Group's construction business as a result of increased turnover and a stronger order book; foreign exchange gains on the Group's property projects as a result of the appreciation of Renminbi against the Hong Kong dollar in the 2017 Interim Period, as contrasted with the losses arising from the currency depreciation during the 2016 Interim Period; and lower overheads as a result of the Group's effort in streamlining its operations.