China Sports International Limited announced unaudited consolidated earnings results for third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of RMB 48,611,000, loss before income tax of RMB 4,513,000, loss for the period of RMB 4,513,000 or 0.42 cents per basic and diluted share, net cash used in operating activities of RMB 4,733,000, compared to the revenue of RMB 32,317,000, loss before income tax of RMB 270,178,000, loss for the period of RMB 270,178,000 or 28.1 cents per basic and diluted share, net cash used in operating activities of RMB 93,323,000, for the same quarter a year ago. The increase in revenue in third quarter of 2016 was mainly attributable to OEM orders increased for market demand on winter season's OEM shoes but in overall nine months of 2016 decrease in revenue was mainly due to the persistent and increasing competition in the sportswear industry. For the year to date, the company reported revenue of RMB 147,364,000, loss before income tax of RMB 17,364,000, loss for the period of RMB 17,364,000 or 1.62 cents per basic and diluted share, net cash used in operating activities of RMB 5,397,000, purchases of property, plant and equipment of RMB 24,620,000 compared to the revenue of RMB 191,160,000, loss before income tax of RMB 566,287,000, loss for the period of RMB 566,287,000 or 58.89 cents per basic and diluted share, net cash used in operating activities of RMB 335,953,000, for the same period a year ago. Net cash used in operating activities decreased significantly by approximately RMB 325.3 million as compared to nine months of 2015 mainly due to the huge loss generated of approximately RMB 566.3 million in nine months of 2015, decrease in trade receivables of approximately RMB 155 million, increase in trade payables and bills payables of approximately RMB 124.5 million compared to nine months of 2015, respectively and this is offset by the huge impairment loss on trade receivables recognised of approximately RMB 487.4 million and decrease in accrued liabilities of approximately RMB 13.9 million as compared with nine months of 2015.