China Candy Holdings Limited reported audited consolidated earnings results for the year ended December 31, 2016. For the period, the company reported revenue of RMB 75.757 million against RMB 81.224 million a year ago. Loss before tax was RMB 2.127 million against RMB 0.187 million a year ago. Loss for the year was RMB 3.291 million or 0.25 cents per basic and diluted share against RMB 4.886 million or 0.44 cents per basic and diluted share a year ago. The absence of the listing expenses for the Year in contrast with the listing expenses of approximately RMB 10,756,000 recorded during the year ended 31 December 2015 had contributed to the decrease in loss for the Year. Such decrease in loss was however partially offset by the decrease in (i) revenue and gross profit due to weaker market sentiment and higher raw material costs and (ii) other income due to decrease in government grants and subsidies for the Year as compared with the corresponding year in 2015. The decrease in revenue was mainly due to the drop in the sales to some of the Group's main customers. With respect to the changes in revenue by geographical regions, South East Asia experienced the large fall in revenue among all regions as the Group faced fierce competition from other candies manufacturers in South East Asia, especially in the Philippines, which hampered the Group's sales. Revenue in the PRC was also lowered as a result of the economic slowdown in the PRC in 2016. Nonetheless, the increase in revenue in the United States had partially offset the decrease in the Group's overall revenue. Sales to new customers in the United States rose as the Group attempted to boost its market share in that region through lowering the gross margin of its products. Of the different candies products produced by the Group, hard candies recorded the large decrease in revenue, as the sales volume of hard candies shrank the most among all candies products.