Xiezhong International Holdings Limited reported consolidated earnings results for the year ended December 31, 2017. For the period, the company's revenue was CNY 929,704,000 against CNY 896,762,000 a year ago. Loss from operations was CNY 15,144,000 against profit of CNY 61,491,000 a year ago. Loss before tax was CNY 47,898,000 against profit of CNY 42,653,000 a year ago. Loss attributable to equity shareholders of the company was CNY 40,323,000 against profit of CNY 43,309,000 a year ago. Basic and diluted loss per share was CNY 0.050 against profit of CNY 0.054 a year ago. The Group generated net cash inflows from operating activities of approximately CNY 159 million during the year ended December 31, 2017. During the Year, the Group incurred capital expenditures of CNY 186.9 million primarily representing additions of land, machineries and equipment and development costs.

The company expects to continue to improve its working capital management and generate positive operating cash flows for the year ending December 31, 2018.