China New Town Development Company Limited announced that they expect that the full year financial results of the Group ending 31 December 2011 will show a net loss. In comparison, the Group had recorded a net profit in the full year financial results for the Group last year. The main reason for this difference was that the Shanghai Luodian project, which was historically a major revenue driver to the Group, has achieved a significantly lower land area sold during the current full year. They further announced that, the land auction for the two land parcels E4-1 and F1-3 in the Shanghai Luodian project, which was listed on 8 October 2011, has been postponed.