The board of directors of Panda Green Energy Group Limited the Company announced that, based on the latest information for the year ended 31 December 2017, the Group may record a net profit of approximately RMB 153 million, representing a decrease of approximately 60% as compared to the corresponding period in 2016. The significant drop in net profit was mainly due to the fair value loss on financial instruments of approximately RMB 290 million; and the increase in finance costs by approximately 28%, as compared to the corresponding period in 2016. The revenue and EBITDA of the group for the year increased by approximately 53% and 41% respectively as compared to the corresponding period in 2016.