The board of directors of Keen Ocean International Holding Limited informed the shareholders and potential investors of the company that, based on the information currently available to the Board, including the unaudited management accounts and after preliminary assessment, the Group is expected to record a loss attributable to the shareholders of the company for the nine months ended 30 September 2016 as compared to that for the corresponding period in 2015. Based on the information currently available, the Board is of the view that such loss was mainly attributable to the decline in turnover and the higher administrative expenses and the listing expenses as mentioned in the Prospectus.