The board of directors of Glorious Property Holdings Limited that the shareholders of the company and potential investors that, based on the information currently available to the Board, the loss attributable to the owners of the Company for the six months ended 30 June 2016 is expected to increase by approximately 90% to 110% as compared to the same period in 2015. Despite that the total area of the properties completed and delivered in the six months ended 30 June 2016 increased significantly resulting in an increase in recognized revenue by nearly 5 times as compared to the same period in 2015, the other expenses and losses for the six months ended 30 June 2016 also increased, thus resulting in a substantial increase in the loss attributable to the owners of the Company for the six months ended 30 June 2016.