Phoenitron Holdings Limited board of directors announced that, based on the Board's preliminary review of the unaudited consolidated management accounts of the group for the nine months ended 30 September 2017, the group is expected to record a net loss attributable to owners of the company of approximately HKD 11.4 million for the Current Period as compared to a net loss attributable to owners of the company of about HKD 235.0 million for the corresponding period in 2016. The Board believes that such decrease in the expected loss is mainly attributable to the combined effects of: a one-time impairment loss on the full amount due from the joint venture company of the Group, Hota (USA) Holding Corp. and its wholly owned subsidiary, Hota Auto Recycling Corporation; the incurrence of a one-time impairment loss on the fair value of the available-for-sale financial assets in accordance with the relevant accounting standards; the reduction of exchange loss, which is, to a large extent, attributable to an exchange loss on the translation of the carrying balance of amount due from a joint venture but no such exchange gain or loss was incurred during the Current Period as the outstanding amount has been fully impaired in 2016; the positive effect from the disposal of the loss-making module packaging and testing service business by end of 2016; the closure of the Beijing SIM card plant in 2016 also helps to reduce the loss of SIM card segment during the Current Period; and the reduction of corporate expenses (excluding the exchange loss) year-on-year basis; but the above was partly offset by both the interest income and financial and management consultancy service fee income were no longer being accrued for and chargeable to Hota Group since the latter half of 2016; the reduction of segment profit for the overseas SIM card segment and the sales of petro-chemical products segment due to the reduced revenue on year-on-year basis.