ShiFang Holding Limited reported consolidated earnings results for the year ended December 31, 2015. For the year, the company reported revenue of RMB 66,972,000 compared to RMB 183,556,000 a year ago. Operating loss was RMB 159,294,000 compared to RMB 252,746,000 a year ago.

Loss before income tax was RMB 168,209,000 compared to RMB 302,786,000 a year ago. Loss and total comprehensive loss attributable to equity holders of the company was RMB 163,792,000 or RMB 0.1755 per basic and diluted share compared to RMB 304,174,000 or RMB 0.3621 per basic and diluted share a year ago. The decrease in revenue was primarily due to the reduced advertising spending in certain sectors, such as real estate, entered an adjustment cycle triggered by the domestic economic slowdown, the continuous switch of advertising platform from print media to new online media, the shift in clients' promotion strategies and the restructuring of the advertising market.

Net cash used in operating activities was RMB 17,534,000 compared to RMB 55,398,000 a year ago. For the year ended 31 December 2015, net cash used in investing activities amounted to RMB 12.4 million, mainly due to the acquisition of a property and the addition of equipment, which were partially offset by release of term deposits. Capital expenditures incurred are mainly for the renovation of office and the purchase of a property, printing machinery and office equipment.

Capital expenditures were RMB 1.7 million and RMB 18.4 million for the years ended 31 December 2014 and 31 December 2015, respectively.