China Ocean Industry Group Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2018. For the period, the company expects loss may be increased, as compared to that of the Group for the year ended 31 December 2017. The possible increased loss was mainly attributable to the reversed accumulated revenue recognised in relation to the Four Vessels and the significant decrease in overall revenue, the increased impairment loss recognized in respect of goodwill, the write-down loss of inventories and the increase in share of loss of joint ventures compared with the same for the year ended 31 December 2017. In assessing the possible provision for impairment losses of goodwill to be accounted, the management of the Company has engaged an independent valuer to prepare the valuation for the subsidiaries as at 31 December 2018 and the valuation is still in progress, details of which will be disclosed in the Company's annual results for the year ended 31 December 2018.