China Gaoxian Fibre Fabric Holdings Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenue of RMB 31,971,000 against RMB 16,918,000 a year ago. Loss before tax was RMB 92,673,000 against RMB 70,290,000 a year ago. Net loss attributable to the equity holders of the company was RMB 92,673,000 or RMB 0.81 per basic and diluted share against RMB 70,290,000 or RMB 0.62 per basic and diluted share a year ago. Net cash flows used in operating activities was RMB 28,826,000 against RMB 30,540,000 a year ago. Purchase of property, plant and equipment was RMB 25,851,000 against RMB 94,015,000 a year ago. Net asset value per share was RMB 0.47 as at March 31, 2016. The higher loss before tax can be attributed to the depreciation amounting RMB 24.7 million of the Huaxiang Project's PPE since the commencement of the actual production.