Pharmesis International Ltd. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of RMB 18,714,000 against RMB 20,658,000 a year ago. The group's revenue decreased by RMB 2.0 million or 9.4% from fourth quarter of 2016, mainly due to lower revenue from both the Group's non-prescribed drugs /distribution segment, and prescribed drugs segment. Revenue from non-prescribed drugs Loss from operations was RMB 1,541,000 against RMB 2,449,000 a year ago. Loss before tax was RMB 1,737,000 against RMB 2,591,000 a year ago. Loss attributable to equity holders of the company was RMB 1,396,000 against RMB 2,811,000 a year ago. Net cash flows used in operating activities was RMB 1,604,000 against RMB 33,211,000 a year ago. Acquisition of property, plant and equipment was RMB 340,000 against RMB 355,000 a year ago.

For the year, the company reported revenue of RMB 69,727,000 against RMB 68,839,000 a year ago. The group's revenue increased by RMB 0.9 million or 1.3% from fiscal year 2016, mainly due to higher sales from non-prescribed drugs segment brought on by increasing demand for Er Ding granules. Overall, non-prescribed drugs/distribution segment increased by RMB 2.8 million while prescribed drugs segment decreased by RMB 1.9 million for fiscal year 2017. Loss from operations was RMB 546,000 against RMB 3,727,000 a year ago. Loss before tax was RMB 1,286,000 against RMB 4,352,000 a year ago. Loss attributable to equity holders of the company was RMB 2,477,000 against RMB 4,640,000 a year ago. Net cash flows from operating activities were RMB 2,679,000 against net cash flows used in operating activities of RMB 31,418,000 a year ago. Acquisition of property, plant and equipment was RMB 1,392,000 against RMB 868,000 a year ago. EPS per diluted share was cents 10.8 against 20.2 cents a year ago.

For the quarter, the company reported impairment loss on property, plant and equipment of RMB 257,000 against RMB 1,247,000 a year ago.