Based on the preliminary assessment on the management accounts of the group, Carry Wealth Holdings Ltd. board of directors expected to record a significant loss for the year ended 31 December 2015 as compared to the same period in 2014. The significant loss for the year ended 31 December 2015 is mainly attributable to: Volatile Hong Kong stock market during the second half of 2015 resulted in a net fair value loss of HKD 2.5 million for the year ended 31 December 2015 as compared to a net fair value gain of HKD 16.9 million for the year ended 31 December 2014 arising from the securities investment business; and the further slowdown of Mainland China macroeconomic growth intensified competition for the Group's garment manufacturing and trading business. In these challenging market conditions, the selling prices decreased with increasing pressure on labour costs, which led to a significant erosion of the Group's gross profit margin.