The board of directors of the Truly International Holdings Limited announced that, based on the information currently available to the company, it is expected that the consolidated profit attributable to owners of the company for the year ended 31 December 2017 would decrease by around 90% as compared to the consolidated profit attributable to owners of the company for the year ended 31 December 2016. The Board believes that the expected decrease in the consolidated profit attributable to owners of the company for the year ended 31 December 2017 was primarily attributable to the following reasons: REVENUE DECREASE - Revenue of the Group for 2017 has been decreased by approximately 6% (approximately HKD 1.3 billion) when compared to 2016, it was mainly because the smartphone shipment volume in China has been dropped in 2017 when compared to 2016; thus, both the Group's consolidated gross profit amount and profit amount attributable to owners of the company for the year ended 31 December 2017 have been dropped accordingly; and ONE-OFF FULL PROVISION FOR BAD AND DOUBTFUL DEBT OF CUSTOMER, LEMOBILE INFORMATION TECHNOLOGY (BEIJING) CO., LTD. - approximately HKD 554 million. According to the credit insurance agreement, the Group has successfully received the compensation with the amount approximately HKD 140 million from the credit insurance company in December 2017.