The board of directors of Ever Harvest Group Holdings Limited reported earnings guidance for the year ended 31 December 2016. The Group is expected to record a net loss for the year ended 31 December 2016 as compared with a net profit for the year ended 31 December 2015. The Group is expected a substantial decrease in operating profit as compared to that in 2015, net of the one-off listing expenses of approximately HKD 18.6 million incurred during the year ended 31 December 2016. After netting of the one-off listing expenses, the net profit attributable to the equity holders of the company for the year ended 31 December 2016 is expected to decrease by approximately 70% to 90% as compared with the corresponding period of 2015. The reasons for the decrease in operating profit is mainly attributable to provision for doubtful debts of approximately HKD 2.7 million due to bankruptcy of an international container lines company, which was long-term customers, in August 2016; narrowed gross profit margin impacted by low levels of freight rates in the second half of year 2016 due to the imbalanced demand and supply in market; and increased international fuel price in the second half of year 2016 which resulted in declining profitability of the Group.