Tao Heung Holdings Limited provided unaudited preliminary earnings guidance for the six months ended June 30, 2017. The Board of Directors of the Company announced that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2017 it is expected to record a significant decrease of approximately more than 50% in the amount of profit attributable to equity holders of the Company for the Period as compared to that for the corresponding period in 2016. The decreases are mainly attributable to: (i) the decline in turnover due to weak consumption sentiment in Mainland China and Hong Kong; (ii) the increase in staff costs to support the Group's operation; (iii) the increase in monthly rental of the Group's leased properties upon renewal of the relevant leases; and (iv) the close down of underperformed shops.