Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited provided unaudited consolidated earnings guidance for the year ended of December 31, 2016. For the period, the company expected that the group may record a consolidated net loss for the year ended December 31, 2016 as compared to the consolidated net profit of RMB 25.5 million recorded for the year ended December 31, 2015, which is mainly attributable to the drop in both domestic and overseas sales due to the slowdown in the rolling out of major oil and gas projects; and a decrease in fair value gains on the group's investment properties.