PAX Global Technology Limited provided consolidated earnings guidance financial year ending December 31, 2017. The Group is expected to record a decrease of approximately 40% to 50% in net profit for the financial year ending 31 December 2017 as compared to that for the financial year ended 31 December 2016. The expected decrease in net profit is primarily attributable to the significant increase in research and development expenses of the Group in relation to the development of new and innovative products by approximately HKD 76 million and the full amount of goodwill and other intangible assets of approximately HKD 53 million recognized on the date of completion of the acquisition; and receivables, plant and equipment and other assets of up to approximately HKD 115 million in aggregate.