The board of directors oSMIT Holdings Limited informed the company's shareholders and potential investors that, according to preliminary review of the group's unaudited consolidated management accounts for the year ended 31 December 2016, the group expects to record a substantial increase of more than 80% in its consolidated net profit for the year ended 31 December 2016 as compared to the profit recorded in the year ended 31 December 2015. The expected increase is primarily attributable to a net exchange gain resulting from the depreciation of RMB against the USD, which benefited the Group's financial assets denominated in USD; a lesser amount of listing expenses was incurred in the year ended 31 December as compared to the corresponding period in 2015; and the one-off expense from the modification to the share-based compensation scheme during the year ended 31 December 2015 being no longer recurred during the year ended 31 December 2016. Furthermore, the Group expects total revenue for the year ended 31 December 2016 to remain relatively stable with a decrease of approximately 10%, primarily due to the significant decrease in mPOS devices revenue in the first half of 2016 as compared to the corresponding period in 2015, which gradually improved in the second half of 2016.