Asian Citrus Holdings Limited announced that at the forthcoming annual general meeting to be held on November 12, 2015, there will be a number of changes in its management and the composition of the company's board of directors. On behalf of the Board, the company announced that Mr. CHEUNG Wai Sun, Executive Director, Mr. PANG Yi, Executive Director and Mr. NG Cheuk Lun, Executive Director and Chief Financial Officer will not offer themselves for re-election.

The company announced audited consolidated earnings and production results for the year ended June 30, 2015. For the year, the company reported turnover of RMB 962,727,000 against RMB 1,271,171,000 a year ago. Loss from operations was RMB 1,223,999,000 against RMB 1,836,446,000 a year ago. Loss before income tax was RMB 1,223,999,000 against RMB 1,836,446,000 a year ago. Loss for the year attributable to equity shareholders of the company was RMB 1,222,371,000 or RMB 0.978 per basic and diluted share against RMB 1,839,179,000 or RMB 1.483 per basic and diluted share a year ago. Net cash used in operating activities was RMB 501,506,000 against net cash generated from operating activities of RMB 33,418,000 a year ago. Purchase of property, plant and equipment was RMB 51,396,000 against RMB 18,967,000 a year ago. Net additions to biological assets were RMB 251,335,000 against RMB 162,157,000 a year ago. Additions to intangible assets were RMB 8,200,000. LBITDA was RMB 1,070.1 million against RMB 1,708.2 million a year ago. Adjusted LBITDA was RMB 402.6 million against adjusted EBITDA of RMB 79.2 million a year ago. Adjusted loss before tax was RMB 556.5 million against RMB 49.1 million a year ago. Adjusted loss attributable to shareholders was RMB 554.9 million or RMB 0.44 per basic share against RMB 51.8 million or RMB 0.04 per basic share a year ago. Adjusted core loss attributable to shareholders was increased compared to last year same period, due to the reduction in production volume and average selling price of oranges crop, as a result of  those occurrences already mentioned; the increase in cost of sales of oranges and the processed fruit business was loss making for the year due to increased cost of raw materials owing to limited supplies; increased material scrap and maintenance costs caused by low productivity of the production equipment; and increased labour costs.

For the year, the company reported total orange production yield decreased by 34.1% to 130,125 tonnes compared to 197,467 tonnes a year ago, due to extensive damage at Hepu Plantation from the impact of Typhoon Rammasun and Typhoon Seagull; the effect of cryogenic freezing rain and frosts in Xinfeng in early 2014 on the fruit blossom; and the effect of high temperature and drought in Xinfeng area during the period from September to December 2014 resulting in water scarcity for irrigation, which affected the fruit size as well as production volume of the orange crop.