Yanchang Petroleum International Limited provided earnings guidance for the six months ended June 30, 2016. For the period, the company is expected to record a loss. Under the sluggish economic climate and low international oil prices environment in the first half year of 2016, the Group has strengthened its management over the in-production oil and gas business in Canada by decreasing in operational costs and increasing in production efficiency, and successfully reduced by approximately HKD 9 million to a loss of approximately HKD 34 million for the six months ended 30 June 2016, as compared to a loss of approximately HKD 43 million recorded in the last period. However, affected by the decrease in profit of the refined oil trading business in the PRC together with the interest and the non-cash fair value loss arisen from the issue of convertible bonds raised last year for the development of the Group's business, and therefore as a result, the Group's interim results is expected to record a loss of approximately HKD 60 million.