Shougang Concord Century Holdings Ltd. reported audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenue of HKD 1,703,255,000 against HKD 1,480,507,000 a year ago. Profit before tax was HKD 5,937,000 against loss before tax of HKD 377,962,000 a year ago. Profit for the year was HKD 10,103,000 or 0.53 cents per basic and diluted share against loss for the year of HKD 376,985,000 or 19.61 cents per basic and diluted share a year ago. EBITDA was HKD 175,264,000 against LBITDA of HKD 187,719,000 a year ago. Adjusted EBITDA was HKD 171,487,000 against HKD 4,923,000 a year ago. Net operating cash inflow for the year was HKD 153,964,000. Capital expenditures incurred by the Group during the year amounted to HKD 11,055,000, which was mainly incurred by Steel cord segment for enhancement of its production facilities.

For the fiscal year 2017, the company's capital expenditures estimated to be approximately HKD 176,631,000, which are to be incurred by Steel cord segment mainly for enhancement of production capacity and efficiency of the two manufacturing plants. These capital expenditures will be financed by the Group's internal resources and bank borrowings.