Delong Holdings Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company’s sales were RMB 2,949,993,000 against RMB 2,986,704,000 a year ago. Profit before tax was RMB 329,596,000 against RMB 436,065,000 a year ago. Net profit was RMB 280,777,000 against of RMB 387,789,000 a year ago. Basic and diluted EPS was RMB 2.55 against of RMB 3.52 a year ago. Net cash generated from operating activities was RMB 67,972,000 against RMB 1,038,059,000 a year ago. Payments for property, plant and equipment was RMB 114,258,000 against RMB 39,329,000 a year ago. The decrease in revenue was principally attributed to a significant decrease in sales volume during the period under review, despite a significant increase in average selling prices of HRC sold. Cash from operating activities decreased by RMB 970.1 million from RMB 1,038.1 million in first quarter 2017 to RMB 68.0 million in first quarter 2018, attributable mainly to an increase in bank balances pledged as a result of higher utilization of the credit facilities within the Group during the period under review.