Under the property development and investment segment, we was progressing diligently with the development of the three pieces of land in Xinmi City, all of which are for industrial use. The Company announced on 15 July 2016 that the Company and the purchaser have entered into the agreement pursuant to which the Company had conditionally agreed to sell and the purchaser had conditionally agreed to purchase 50% of the total issued share capital of Speedy Global Development Limited (the “Target”), a company incorporated in the British Virgin Islands, at the consideration of HK$10 in cash. The Target and its subsidiaries (the “Target Group”) are principally engaged in the property development and investment for the land above-mentioned at Xinmi City. The Board considered that the disposal of the Target Group enables the Group to avoid the risks and uncertainties associated with the investments in industrial properties, including but not limited to the depreciation trend in Renminbi and decreasing trend in growth for both gross domestic production in the PRC and the industrial added value in Henan province, the PRC. After the completion of the disposal in early September 2016, the Company no longer held any interest in the Target Group. We are still closely monitoring the property market and determine the appropriate development strategy for the Group’s Property Investment and Development Business. We will seek any appropriate property investment and development project if we believe that it can magnify the Group’s shareholders’ return.