Ping Shan Tea Group Limited announced audited consolidated earnings results for the year ended December 31, 2015. For the year, the company's revenue was HKD 822.5 million compared with HKD 479.3 million a year ago. This was principally due to the sales of inventories brought forward from the previous year and inventories harvested and purchased during the Year at lower gross margins due to sluggish consumer markets, especially the tea products for business gifts.

Loss from operations was HKD 706.1 million compared with HKD 377.7 million a year ago. Loss before tax was HKD 824.7 million compared with HKD 452.4 million a year ago. Loss for the year from continuing operations was HKD 827.6 million or 4.81 cents per basic share compared with HKD 453.9 million or 3.35 cents per basic share a year ago.

Loss attributable to equity shareholders of the company was HKD 826.7 million or 4.81 cents per basic share compared with HKD 856.2 million or 6.33 cents per basic share a year ago. The loss attributable to equity shareholders of the company for the year was mainly due to impairment loss on goodwill of approximately HKD 815.0 million. During the Year, the total capital expenditure and material acquisition of the Group for the expansion of various plants and erection of new buildings was approximately HKD 0.2 million compared with HKD 67.3 million a year ago.