Feishang Anthracite Resources Limited provided earnings guidance for the year ended 31 December 2016. For the year, the group is expected to record a significant increase in gross profit, as compared to a slight gross profit for the same period in 2015. Notwithstanding the net loss incurred for the year ended 31 December 2016, the Board would like to draw to the attention of the shareholders that there is a significant reduction in the net loss of the Group for the year ended 31 December 2016 as compared to that for the same period in 2015. The significant improvement in the financial performance for the year ended 31 December 2016 was due to the following reasons: the notable rebound in coal market sentiment in mainland China during the last quarter of 2016, which led to an increase in sales volume and average selling price of anthracite coal; the increase in the sales of processed coal with higher profit margin; and the reduction in the impairment loss on property, plant and equipment.