Da Ming International Holdings Limited announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the six months, the company reported revenue of RMB 8,433,541,000 against RMB 9,179,057,000 a year ago. Operating profit was RMB 214,488,000 against operating loss of RMB 45,671,000 a year ago. Profit before income tax was RMB 147,743,000 against losses before income tax of RMB 115,579,000 a year ago. Profit for the period was RMB 109,250,000 against losses of RMB 87,865,000 a year ago. Profit attributable to equity holders of the company was RMB 102,937,000 or RMB 0.09 per basic and diluted share against loss attributable to equity holders of the company of RMB 88,143,000 or loss of RMB 0.08 per basic and diluted share a year ago. Net cash used in operating activities were RMB 573,134,000 against RMB 213,354,000 a year ago. Purchase of property, plant and equipment was RMB 112,612,000 against RMB 206,196,000 a year ago. Such decrease was mainly due to the decrease in the average market price of stainless steel and carbon steel raw materials. The decrease was partially offset by the following factors: the increase in the sales volume of both stainless steel and carbon steel processing businesses. The sales volume of stainless steel processing business increased from 649,064 tonnes for the six months ended 30 June 2015 to 722,663 tonnes for the six months ended 30 June 2016 representing an increase of approximately 11.3%. The sales volume of carbon steel processing business also increased from 295,108 tonnes for the six months ended 30 June 2015 to 451,889 tonnes for the six months ended 30 June 2016 representing an increase of approximately 53.1%; and the increase in processing fee income as reflected by the increase in the processing volume of stainless steel processing business from 991,091 tonnes for the six months ended 30 June 2015 to 1,081,648 tonnes for the six months ended 30 June 2016 representing an increase of approximately 9.1%. The processing volume of carbon steel processing business also increased from 255,770 tonnes for the six months ended 30 June 2015 to 422,609 tonnes for the six months ended 30 June 2016 representing an increase of approximately 65.2%.

The Group expects a satisfactory growth in the business in the next 12 months.