The board of directors informed the shareholders of China City Railway Transportation Technology Holdings Company Limited and potential investors that based on the preliminary assessment of the unaudited management accounts for the year ended December 31, 2015, it is expected that the group will record a decline in profit as compared to that for the 18 months ended 31 December 2014, notwithstanding that the company expects a growth in the civil communication transmission systems leasing service segment for the 2015 financial year as compared to the 2014 financial year. Such expected decline in profit was mainly attributable to the financial year end date of the Group had been changed from 30 June to 31 December during the 2014 financial year, as a result, the accounting period for the 2014 financial year had been extended to 18 months, while in the 2015 financial year, the accounting period is 12 months. As such, the profit for the 2015 financial year only covered the profit for the 12 months from 1 January 2015 to 31 December 2015, that is 6 months less than that of the profit for 2014 financial year which covered the profit for the 18 months from 1 July 2013 to 31 December 2014; and the tender process for certain major design and implementation of application solution service projects were postponed.