Oriental Watch Holdings Limited announced that based on the unaudited consolidated results of the company and its subsidiaries for the year ended 31 March 2014, it is expected that the group's operating profit for such year will be substantially lower than that for the year ended 31 March 2013 mainly as a result of (i) a decrease in turnover and drop in gross profit margin due to the adverse effect of the slow down of Mainland China's economy; and (ii) increase in rental of shops. The information contained in this announcement is based only on the management's preliminary assessment after reviewing the unaudited consolidated management accounts of the Group for the year ended 31 March 2014, which are currently under review by the company's auditors.