The Board of China Ocean Shipbuilding Industry Group Limited announced that the group is expected to record a significant decrease in revenue and an increase in loss for the six months ended June 30, 2014 as compared to those for the corresponding period of last year. The decrease in revenue was mainly due to the failure to commence construction works on new orders in the first half of the year as stated in the company's 2013 annual report; while the increase in loss were mainly due to the decreased in revenue; one- off losses on issuing share options and modification of the terms of convertible note payable. Both one-off losses are non-cash in nature and do not have impact on the operating cash flows of the group.