China Vanguard Group Limited provided earnings guidance for the year ended 30 June 2016. For the year, the group is expected to record a significant loss attributable to equity holders as contrasted with the audited consolidated net profit for the previous corresponding year ended 30 June 2015. The group's loss was mainly attributable to a decline of over 65% in revenue contributions from the group's self-service lottery business for the year ended 30 June 2016 as compared to the corresponding year in 2015, and an impairment loss made on the group's goodwill and trade receivables. In addition, the group's total operating costs and expenses during the year have also increased by over 16% against the corresponding year in 2015 due to the additional costs incurred to strengthen the group's operation in preparing for new business needs.