China Resources Phoenix Healthcare Holdings Company Limited provided consolidated earnings guidance for the six months ended June 30, 2018. The board of directors of the Company is expected that the Group would still record a relatively large decrease in profit before tax for the Reporting Period as compared with the profit before tax of approximately RMB 397.6 million recorded for the first half of 2017. The expected decrease comes from the absence of certain one-off gain items as recorded in the corresponding period last year. Such one-off gain items recorded in the first half of 2017 include: a one-off gain on reclassification of investment in equity interests in UMP Healthcare Holdings Limited accounted for using the equity method to available-for-sale financial assets pursuant to the relevant accounting standards on June 15, 2017 amounted to approximately RMB 115.4 million; and non-recurring gains on investments in UMP Healthcare Holdings Limited amounted to approximately RMB 5.99 million; and non-recurring gains on investment in UMP Healthcare (Beijing) Group Limited (which was a joint venture of UMP Healthcare Holdings Limited and the Group) amounted to RMB 15.77 million.