The board of directors of the Milan Station Holdings Limited announced that based on the information currently available, the Group is expected to record a significant increase in loss for the six months ended June 30, 2016 as compared to loss recorded for the six months ended June 30, 2015. The increase in the loss was mainly attributable to, a decline in turnover due to weakened demand from customers from Mainland China and the worsening operating environment of the retail sector in Hong Kong, loss arising from closure of certain shops of the Group in the PRC and the absence of one-off gain on disposal of investment property as recognized in the corresponding year of 2015.