Chongqing Iron & Steel Company Limited provided earnings guidance for the year ended December 31, 2017. The company is expected to record a profit of approximately RMB 330 million in its results and the net assets at the end of 2017 would be positive. The estimated profit of the company for the current period was mainly attributable to items of non-recurring gain or loss including the judicial re-organization of the company, affecting approximately RMB 2,100 million. After deducting the said items of non-recurring gain or loss, the company is expected to record a loss of approximately RMB 1,770 million. The main reason for the estimated profit for the current period was due to the impact of the company's income from the judicial re-organization of approximately RMB 2,000 million. After the company entered the process of judicial re-organization, the company stripped its loss assets through the re-organization process. In addition, some of its debts were settled by cash, some were offset by conversion of capital reserve and some were waived according to laws, and these ways in turn reduced the total debt of the company to a large extent and optimized the structure of the assets and liabilities of the company, as well as resumed and enhanced its ability to run the business sustainably. Upon the company's completion of implementing the re-organization plan according to the judicial ruling, the income from the judicial re-organization confirmed under the accounting standards would be approximately RMB 2,000 million.