Christine International Holdings Limited reported audited consolidated earnings results for the year ended December 31, 2017. For the period, the company reported revenue of RMB 805,046,000 compared to RMB 925,705,000 a year ago. Loss before taxation was RMB 125,446,000 compared to RMB 118,799,000 a year ago. Loss and total comprehensive expense for the year attributable to owners of the company was RMB 128,654,000 compared to RMB 121,210,000 a year ago. Basic and diluted loss per share was 12.7 cents against of 12.0 cents a year ago. The decrease in revenue was mainly attributable to the closure of 51 stores during 2017. Total capital expenditures were RMB 21,000,000. Capital expenditure arising from sales network development included the project of opening 13 outlets operated by the group during 2017, the external and internal maintenance of the existing outlets and dormitory fitting-out for Xiasha factory. Capital expenditure arising from production capacity expansion was mainly attributed to the expenses for conducting civil engineering projects in Jiangning facility and acquisition of machinery and equipment for plants. Capital expenditure for back office administration was mainly related to the purchase of IT software. Net cash used in operating activities was RMB 173,730,000 compared to RMB 31,261,000 a year ago. Purchase of intangible assets was RMB 125,000 compared to RMB 3,351,000 a year ago. Purchase of property, plant and equipment was RMB 16,857,000 compared to RMB 32,518,000 a year ago.