Larry Jewelry International Company Limited provided earnings guidance for the year ended December 31, 2013. The group's consolidated net loss for the year ended December 31, 2013 is expected to be considerably higher than that for 2012. The Board considers this is primarily attributable to the following two major reasons: the downturn of the luxury retail market in the second half of 2013 resulting in significant reduction in the sales revenue of the Group; and the impairment loss on the carrying amount of goodwill.