China Tontine Wines Group Limited provided earnings guidance for the year ended December 31, 2013. The Board announced the Shareholders and potential investors that the Group is expected to record a loss for the year ended December 31, 2013 as compared to the recorded profit for the same period last year. The expected loss was mainly attributable to the decrease in the Group's revenue due to economic slowdown and weaker demand for the domestic wine products; a substantial decrease in the Group's operating profit caused by a slump in the sales of its mid-range and high-end wines (which had adversely affected the Group's product mix and overall gross margin) mainly due to the PRC government-imposed restrictions on entertainment and hospitality as part of its anti-corruption drive; and an increase in selling and distribution expenses for brand building, sales and marketing of the products of the Group.