China Candy Holdings Limited announced unaudited consolidated earnings results for the three and six months ended June 30, 2017. For the three months, the company reported revenue of RMB 13,533,000 against RMB 18,694,000 a year ago. Loss before tax was RMB 6,733,000 against profit of RMB 804,000 a year ago. Loss for the period was RMB 6,788,000 against profit of RMB 512,000 a year ago. Basic and diluted loss per share were 0.42 cents against earnings of 0.04 cents a year ago.

For the six months, the company reported revenue of RMB 25,004,000 against RMB 29,790,000 a year ago. Loss before tax was RMB 11,857,000 against profit of RMB 259,000 a year ago. Loss for the period was RMB 12,154,000 against RMB 298,000 a year ago. Basic and diluted loss per share were 0.81 cents against 0.02 cents a year ago. Net cash used in operating activities was RMB 13,032,000 against cash generated of RMB 770,000 a year ago. Net cash used in operating activities was RMB 13,032,000 against net cash generated by operating activities of RMB 770,000 a year ago. The group acquired property, plant and equipment of approximately RMB 1,287,000 compared to approximately RMB 1,212,000 a year ago. The decrease in revenue was mainly attributed to the decrease in the sales to certain major customers of the Group resulting from economic slowdown in the PRC and intensive competition from other candies manufacturers for the Period.

The Directors consider that the Group's turnover in the second half of 2017 could be negatively affected given the ongoing intensive competition from other candies manufacturers and economic slowdown in the PRC.