Lifestyle Properties Development Limited provided unaudited consolidated earnings guidance for the year ended Dec. 31, 2016. The board of directors of the company announced that based on the management accounts of the group and the information currently available, the group is expected to record a loss attributable to owners of the company for the year ended December 31, 2016 of not less than HKD 30 million, as comparing to a profit of HKD 17.2 million recorded in 2015. The expected loss for the year was mainly caused by the provision for impairment in respect of the group's 10% unlisted equity investment in the PRC amounting to approximately HKD 29 million, as well as expensing rather than capitalizing as properties under development during the year the amortized prepaid lease payment with respect to the group's Yifu Land in Shenyang, the PRC.