Phoenitron Holdings Limited provided group earnings guidance for the third quarter ended September 30, 2016. The Group is expected to record a loss for the third quarter ended September 30, 2016. The expected loss of the Group is mainly attributable to the significant impairment loss on the amount due from the joint venture company of the Group, Hota (USA) Holding Corp. and its wholly owned subsidiary, Hota Auto Recycling Corporation of approximately HKD 222.0 million.