The Board of Grand Concord International Holdings Limited informed the shareholders and potential investors of the company that the profit attributable to the shareholders for the year ended 31 December 2015 is expected to substantially decrease as compared with that of the 2014 to the extent that a considerable loss may be recorded. Based on the currently available information, such substantial decrease in profit or considerable loss is mainly attributable to the slowdown in the economic growth in China and the stagnant economic situation in Japan, which resulted in a decrease in the demand for the group's knitted innerwear and fabric products, causing a drop in the domestic and export sales volume, as well as a decrease in gross margin arising from reduced selling prices of the Group's products.