Based on the unaudited management accounts of the Group and the preliminary estimation by the company, the board of directors of China Properties Investment Holdings Limited informed the shareholders and potential investors of the company that the results of the Group for the year ended 31 March 2015 are expected to improve as a result of an anticipated significant decrease in the consolidated net loss for the year ended 31 March 2015 as compared with that for the corresponding period in 2014. Based on the information currently available to the company, the Board believes that the expected decrease in the consolidated net loss of the Group will be mainly attributable to decrease in impair loss of the intangible assets of the Group primarily due to steady decrease in copper and molybdenum prices; valuation gain being recorded on the investment properties held by the Group; and interest income on promissory note in the amount of approximately RMB 7.2 million accrued during 31 March 2015 which income was not available in 2014. Subject to discussion and finalization of certain valuation figures with the auditors and valuers of the company, the Board expects that the Group will be able to reduce its consolidated net loss position up to or below the level of approximately RMB 40 million for the year ended 31 March 2015.