Phoenitron Holdings Limited provided earnings guidance for the year ended December 31, 2012. For the year, the board of directors based on the preliminary review of the unaudited management accounts, it is expected that the annual results of the company and its subsidiaries for the year ended 31 December 2012 will record a loss as compared to the significant profit reported for the corresponding period in 2011. The Board considers that the significant profit reported for the year ended 31 December 2011 was mainly attributable to (i) a significant fair value gain on derivative portion of the preferred shares of a jointly controlled entity; and (ii) a gain on partial disposal of a jointly controlled entity.