Vitop Group Limited provided group earnings guidance for the year ended 30 June 2016. The board of directors of the company announced that, based on the information currently available to the group, the group expects to record a higher level of loss in the financial results for the year ended 30 June 2016 compared with that of the same period last year. The board considered that the increase in loss for the year is mainly attributable to the fact that: (1) the portfolio of investment properties held by the group for the preceding financial year had incurred fair value impairment of approximately HKD 13.60 million based on the independent professional assessment conducted as at 30 June 2016; (2) after discussion with the Group's independent auditors, the Group considered it appropriate to make full impairment provision as at the end of the year for available-for-sale investments amounting to approximately HKD 21.70 million held by the Group brought forward from the preceding financial year, which is yet to generate any revenue or provide any realizing opportunities for the Group during the year; and (3) during the preceding financial year, the group had accumulated a large quantity of inventories and failed to completely sell such inventories during the current financial year prior to the expiry of product, and therefore is necessary to make a provision of approximately HKD 40.90 million for the obsolete and slow moving inventories in such regard.