China Packaging Holdings Development Limited provided earnings guidance for the year ended December 31, 2016. It is expected that there will be an over 80% decline of the Group's net profit for the year ended 31 December 2016 as compared to that of the year ended 31 December 2015. Such decrease in profit was mainly due to the incurrence of several non-operating items such as the change in fair value of contingent consideration payable as a result of subsequent re-measurement of the fair value of the additional consideration in relation to the acquisition of mobile gaming business in April 2016 (the Acquisition) as the business acquired has stopped its performance target and the amortization of intangible assets arising from the Acquisition.