Ping An Securities Group (Holdings) Limited provided earnings guidance for the year ended 31 December 2017. Loss of the group for fiscal year 2017 is expected to increase substantially as compared to the loss for the year in 2016. Based on the information currently available, the Board considers that the substantial increase in loss was mainly attributable to (i) recognition of agency fee as distribution costs for pre-leasing of investment properties under development launched by a PRC subsidiary in fiscal year 2017 but without recognition of corresponding rental income from pre-leasing as the investment properties are still under development in fiscal year 2017; and (ii) significant decrease in fair value gain on derivative financial liabilities and contingent consideration in fiscal year 2017 as compared to a total gain of approximately HKD 208 million in fiscal year 2016.