The board of directors of China Chuanglian Education Group Limited announced that, based on the information currently available to the management, despite the fact that there was a significant increase in the group's revenue for the year ended 31 December 2015, the Group is expected to record a loss attributable to owners of the Company for the year ended 31 December 2015, as compared to a profit attributable to owners of the Company for the year ended 31 December 2014. The Board believes that the expected loss attributable to owners of the Company for the year ended 31 December 2015 was mainly attributable to the following reasons: increase in administrative expenses mainly due to the share-based expense arising from the options granted to eligible participants on 4 May 2015, 2 July 2015 and 20 October 2015 as incentives for better development of the Group's businesses. Such expense does not have any impact on the Group's cash flow; increase in selling and marketing expenses as a result of the increase in the Group's revenue; and the gain on disposal of subsidiaries of approximately RMB 17.7 million for the year ended 31 December 2014 which is non-recurring.