The board of directors of Phoenitron Holdings Limited announced that the group is expected to record a decrease in net profit of approximately HKD 7.9 million for the six months ended 30 June 2016 (current period) as compared to that of the corresponding period in 2015. The Board believes that such expected decrease is mainly attributable to the combined effects of decrease in interest income as the interest rate chargeable to a joint venture was lower during the current period; the net loss attributable to the module packaging and testing service business during the current period increased as compared to the corresponding period in 2015, which was primarily due to the prolonged weak demand from the leading PRC telecommunication market customers since second quarter of 2015; and the increase in exchange loss as compared to the corresponding period in 2015 in relation to the translation of the carrying balance of an amount due from a joint venture (as the loan is denominated in Renminbi which has depreciated against Hong Kong Dollars during the current period).