The board of directors of South China Land Limited informed the shareholders of the company and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group, the Group expects to report a profit for the six months ended June 30, 2015 as opposed to the loss for the corresponding period in 2014. The improvement in the results for the period is mainly attributable to the fair value gain on redemption option embedded in redeemable convertible preference shares of a related company recorded in the Period as opposed to a fair value loss for the corresponding period in 2014. This is partially offset by the loss on disposal of available-for-sale financial assets in the period.