Summit Ascent Holdings Limited provided earnings guidance for the year ended December 31, 2012. The board of directors announced that based on the preliminary review of the unaudited consolidated management accounts of the Group for the year from January 1, 2012 to December 31, 2012, the Group expects to record a loss for the year ended December 31, 2012, as compared to the profit recorded for the year ended December 31, 2011. Such expected loss was primarily attributed to the significant drop in turnover of the Group.