Glorious Property Holdings Limited announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company reported revenue of RMB 2,016,577,000 against RMB 342,444,000 a year ago. Loss before income tax was RMB 2,076,487,000 against RMB 1,078,350,000 a year ago. Loss attributable to owners of the company was RMB 1,999,932,000 or RMB 0.26 per diluted share against RMB 996,620,000 or RMB 0.13 per diluted share a year ago. The Group recorded a net operating cash inflow of RMB 303.0 million for the six months ended 30 June 2016, which showed improvements as compared to a net operating cash outflow of RMB 803.6 million for the same period in 2015. The Group recorded a substantial increase in the loss before income tax for the current period as compared to the same period in 2015 mainly due to the higher provision for impairment made to the Group's properties, the fair value loss for investment properties increased significantly and a substantial part of finance costs were not being capitalised for the current period. The Group recorded a substantial increase in the loss attributable to the owners of the Company for the first half of 2016 as compared to the same period in 2015 mainly due to the higher provision for impairment made to the Group's properties, the fair value loss for investment properties increased significantly and a substantial part of finance costs were not being capitalised for the current period.