The board of directors of L'sea Resources International Holdings Limited informed the shareholders of the company and potential investors that based on the preliminary assessment of the group's unaudited consolidated management accounts for the year ended 31 December 2013 and information currently available to the Board, the company expects to record a significant increase in the net profit of the group for the year ended 31 December 2013 as compared with that for the corresponding period in 2012. The increase is mainly due to a gain recorded for the year ended 31 December 2013 from the repurchase of convertible bonds at a discount to face value. However, the expected net profit for the year ended 31 December 2013 is less than the net profit of the group for the six months ended 30 June 2013 as announced by the company on 30 August 2013.