The board of directors of the Tiangong International Company Limited announced that based on the preliminary assessment by the management of the Group on the unaudited consolidated management accounts of the Group for the five months ended 31 May 2018 (Management Accounts) and the projected revenue to be recognised for the month of June 2018, the Group is expected to have a significant increase of over 100% in its unaudited consolidated net profit for the six months ending 30 June 2018 (Period) as compared to the same period of 2017. The significant increase in the forecasted Group's unaudited consolidated net profit for the Period was attributable to: increase in sales volume of the Group's products during the Period due to the increase market demand; and increase in the average selling price of the Group's products due to an upward pricing in rare metals to which the Group uses as raw materials during the Period.