FDG Electric Vehicles Limited announced audited consolidated earnings results for the year ended March 31, 2018. For the year, the company reported revenue of HKD 1,058,474,000 against HKD 1,513,179,000 for the same period a year ago. Loss before tax was HKD 3,163,350,000 against HKD 742,169,000 for the same period a year ago. Loss for the year attributable to owners of the company was HKD 2,230,371,000 against HKD 554,849,000 for the same period a year ago. Basic and diluted loss per share was 9.95 cents against 2.50 cents for the same period a year ago. Additions to non-current assets were HKD 950,920,000 against HKD 1,215,682,000 for the same period a year ago. During the year ended 31 March 2018, the group's additions to property, plant and equipment amounted to HKD 352,556,000 (2017 value of HKD 649,792,000), which mainly represented construction in progress for the development of the Group's electric vehicle production plants in Hangzhou and Guizhou. The substantial decrease was mainly due to a combined effect of (i) the significant decrease in the sales of electric vehicles represented by a revenue of approximately HKD 730.2 million in the current financial year, a decline of approximately 38.1% as compared to a revenue of approximately HKD 1,178.9 million of the last financial year mainly resulting from the longer than expected time for electric vehicles industry to adapt the new subsidy policies in the PRC and the impact of new specification requirements on electric vehicles under the new subsidy policies; (ii) a slight increase in sales of lithium-ion battery products of approximately HKD 9.4 million to external customers as compared to that of the last financial year; and (iii) the slight decrease in sales of cathode materials from the battery materials production business, represented by a revenue of approximately HKD 219.2 million, a decrease of approximately 6.4% as compared with a revenue of approximately HKD 234.2 million of the last financial year.