The board of directors of the Greenheart Group Limited announced that, based on a preliminary assessment of the latest unaudited consolidated management accounts of the Group, the Group is expected to turnaround and record an improvement in both consolidated profit after tax and the net profit attributable to the Shareholders for the financial year ended 31 December 2017 as compared to that for the financial year ended 31 December 2016. Based on the information currently available, the estimated improvement in results for the Financial Year was mainly attributable to, among other things: a substantial fair value gain on the New Zealand plantation forest assets of approximately HKD 130,800,000 for the Financial Year, as a result of the increased forecasted selling price, reflecting the strong demand of New Zealand raditata pine; and enhanced operating profits for the Financial Year due to the improved market conditions in global wood industry, particularly in China and the concerted efforts to reduce the operating costs and strengthen the operation efficiency.