Code Agriculture Holdings Limited announced that based on preliminary review by the company's management on the unaudited consolidated management accounts of the Group for the financial year ended March 31, 2012, the company expects that the Group will record a net loss for the financial year ended March 31, 2012 which will be significantly less than the net loss for the corresponding period in 2011. The Board considers that the decrease in the net loss was due to a significant decrease in impairment loss on goodwill and other intangible assets of the Group for the financial year ended March 31, 2012.