Wai Chun Mining Industry Group Company Limited. provided earnings guidance for the year ended December 31, 2012. For the year, the company expected to record a significant net loss as compared to the loss recorded for the year ended December 31, 2011.

Based on the information currently available, the significant net loss of the group for the year ended December 31, 2012 was mainly attributable to the significant increase in cost of sales of modified starch and other biochemical business in the PRC and the proposed impairment charges to be made on certain receivables of the Group for the year ended December 31, 2012.