First Shanghai Investments Limited provided earnings guidance for the year ended December 31, 2012. The Group is expected to record a significant loss for the year ended December 31, 2012 as compared to a loss for the year 2011. The expected loss is mainly attributable to (i) the expected share of loss from its investment in a listed associate, after its further provision for impairment on certain investments, and (ii) the recognition of loss on disposal of investment property.