Time2u International Holding Limited reported unaudited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenue of RMB 271,812,000 against RMB 691,349,000 a year ago. Loss before taxation was RMB 339,376,000 against profit before taxation of RMB 129,173,000 a year ago. Loss attributable to owners of the company was RMB 322,514,000 or 13.03 cents per basic and diluted share against profit attributable to owners of the company of RMB 85,901,000 or 7.29 cents per basic and diluted share a year ago. The decrease in revenue was mainly attributable to (i) continual weakening of the market demand on the branded watches and OEM watches of the Group affected by overall economic slowdown in the People's Republic of China; (ii) continual decrease in the average selling price of the branded watches and OEM watches of the Group; and (iii) the sales return of approximately RMB 33.1 million from customers of branded watches and OEM customers. The decrease in profit before taxation was mainly attributable to the decrease in revenue, the written-off of inventories which mainly due to (1) long-aged old-fashioned inventories; (2) unsatisfactory sales demand and quality of customised inventories, impairment of property, plant and equipment and change of fair value of financial assets at fair value through profit or loss.