COFCO Meat Holdings Limited announced audited consolidated earnings and operating results for the year ended December 31, 2017. For the year, the company's revenue from continuing operations was RMB 6,960,567,000 against RMB 6,616,068,000 a year ago. Profit before tax was RMB 447,803,000 against RMB 949,281,000 a year ago. Profit for the year from continuing operations was RMB 444,807,000 against RMB 947,935,000 a year ago. Profit for the year attributable to the owners of the company-from continuing operations was RMB 451,629,000 against RMB 947,991,000 a year ago. Profit for the year attributable to the owners of the company was RMB 451,629,000 against RMB 951,912,000 a year ago. Basic and diluted earnings per share from continuing operations were 11.57 cents against 27.55 cents a year ago. Basic and diluted earnings per share from continuing and discontinued operations were 11.57 cents against 27.67 cents a year ago. In 2017, revenue of the group from continuing operations was represented a year-on-year increase of RMB 345 million as compared with for the same period in last year, mainly benefiting from the effective development of branded business channels and the rapid growth of overall sales volume. Meanwhile, hog production volume recorded a year-on-year increase of 30.0%, which jointly offset the effect from the year-on-year decrease of commodity pig price during the reporting period. Before the adjustments of fair value of biological assets, the net profit of the Group was RMB 497 million, representing a decrease of RMB 393 million as compared with RMB 890 million for the same period in 2016, with a year-on year decrease of 44.2%. Payments for property, plant and equipment was RMB 972,000 against RMB 1,044,000 a year ago. Payment for prepayment for lease payments was RMB 22,000 against RMB 19,000 a year ago. Payments for other intangible asset were RMB 1,000 against RMB 1,000 a year ago. In 2017, the EBITDA (before biological assets fair value adjustments) of the group's continuing operations was RMB 911 million, compared with RMB 1,263 million for the same period in 2016. Net cash generated from the company's operating activities was RMB 586 million, compared with RMB 1,352 million for the same period in 2016. The net cash used in the company's investment activities was RMB 522 million (the same period in 2016: RMB 604 million), including RMB 972 million (the same period in 2016: RMB 1,044 million) for the purchase of property, plant and equipment.

For the year, the company's hog production volume was 2,226,000 heads against 1,712,000 heads a year ago. Fresh pork sales volume was 172,000 tons against 143,000 tons a year ago. Branded pork sales volume was 33,000 tons against 20,000 tons a year ago.