Carnival Group International Holdings Limited provided earnings guidance for the year ended December 31, 2012. The board of directors of the company informed the shareholders of the company and potential investors of the company that, based on the financial information currently available, it is anticipated that the group will record a significantly higher loss for the year ended 31 December 2012 as compared with that for the year ended 31 December 2011. The expected higher loss was mainly attributable to the loss on change in fair value of promissory notes due to the redemption during the year and the imputed finance cost on promissory notes and convertible notes.

The board expects that the revenue and the financial position of the group will be improved in 2013 as the proceeds generated from pre-sale of phase I residential units of the Group in Huangdao District, Qingdao City, Shandong Province are expected to be recognized in 2013.