Christine International Holdings Limited announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company's revenue was RMB 444.7 million compared with RMB 490.4 million a year ago. The decrease in revenue was primarily due to the slowdown in external overall economic growth, which affected the fast-moving consumer goods (FMCG) market and led to the slowdown in economies of scale for most physical retail stores under traditional chained bakery brand. Loss before taxation was RMB 63.8 million compared with RMB 83.8 million a year ago. Loss and total comprehensive expense for the period attributable to owners of the company was RMB 64.3 million or 6.4 cents per basic and diluted share compared with RMB 85.4 million or 8.5 cents per basic and diluted share a year ago. Major causes for the adverse impact on performance include: the effects of the change of external environment and the unchanged internal environment, the number of stores rapidly reduced by the Group which resulted in the decreased number of walk-in consumers and the deterioration of performance and thus lower operation ratio and profits. The company's gross operating profit was approximately RMB 198,647,000 for the six months ended 30 June 2016, representing a decrease of approximately 11.2% as compared to RMB 223,807,000 for the six months ended 30 June 2015. Capital expenditure in relation to the acquisition of fixed assets amounted to approximately RMB 11,913,000 against RMB 21,919,000 a year ago. Net cash outflow from operating activities was RMB 142,427,000 against RMB 53,200,000 a year ago.