Tenwow International Holdings Limited announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the six months, the company’s revenue was RMB 2,479,663,000 against RMB 2,459,647,000 a year ago. Operating profit was RMB 220,310,000 against RMB 242,234,000 a year ago. Profit before income tax was RMB 183,447,000 against RMB 209,577,000 a year ago. Profit for the period was RMB 130,021,000 against RMB 153,169,000 a year ago. Profit for the period attributable to owners of the company was RMB 125,114,000 against RMB 148,007,000 a year ago. Basic and diluted earnings per share were 6.0 cents against 7.1 cents a year ago. EBITDA slightly decreased by 1.6% year-on-year to RMB 285.2 million, mainly because the Group took back the nationwide distribution right of own brand non-alcoholic beverages since 2016, which caused the distribution costs to increase. The net borrowings of the Group as at 30 June 2016 was RMB 1,015.9 million. In the first half of 2016, the Group's net cash inflow from operating activities significantly boosted to RMB 205.7 million compared to net cash outflow of RMB 56.0 million a year ago. Improvements in both cash flow from operating activities and free cash flow were primarily attributable to the Group's efforts in strict control of working capital and the reduction in capital expenditures. In the first half of 2016, the Group had capital expenditures and investments of RMB 66.7 million compared to RMB 252.5 million a year ago. This primarily included the expenditures for equipment of Wuhan and Chengdu production bases, warehouses and logistics of Putian production base and related building construction of Chengdu production base.