North Asia Resources Holdings Limited provided earnings guidance for the year ended December 31, 2014. Based on the information currently available to the Board, though the Group is expected to record a loss for the year ended December 31, 2014, the Group's net loss for the year ended December 31, 2014 is expected to decrease by over 70% as compared to that for the year ended December 31, 2013. The decrease in loss during the year was mainly attributable to the net effect of (i) decrease in impairment loss recognized in respect of goodwill; (ii) increase in impairment loss recognized in respect of mining rights and property, plant and equipment; and (iii) increase in finance cost.

The main reason for the impairment loss recognized in respect of the mining rights was due to the drop in coal price and the delay in commercial operations of relevant mines for the year ended December 31, 2014. It is expected that the loss will not significantly affect the liquidity of the Group materially as the major part attributable to the loss was non-cash in nature.