ChinaCache International Holdings Ltd. Reports Adjusted Audited Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2016; Reports Impairment of Long Lived Assets for the Fourth Quarter ended Dec. 31, 2016; Provides Revenue Guidance for the Full Year of 2017
For the full year, the company reported net revenues of RMB 1,054,235,000 compared to RMB 1,353,627,000 a year ago. Operating loss was RMB 922,591,000 compared to RMB 118,964,000 a year ago. Loss before income taxes was RMB 910,024,000 compared to RMB 111,349,000 a year ago. Net loss attributable to the company's shareholders was RMB 913,477,000 compared to RMB 88,691,000 a year ago. Basic and diluted loss per share was RMB 2.24 compared to RMB 0.22 a year ago. Adjusted LBITDA was RMB 255,144,000 compared to adjusted EBITDA of RMB 120,183,000 a year ago. Adjusted net loss was RMB 425,445,000 compared to RMB 23,354,000 a year ago. Adjusted basic and diluted loss per share was RMB 1.04 compared to RMB 0.13 a year ago. Non-GAAP operating loss was RMB 420,232,000 compared to RMB 42,625,000 a year ago. Due to the downturn in the company's operating results, the company has impaired the net value of all its property and equipment and intangible assets as of December 31, 2016 based on the excess of the carrying amount of the asset group over its fair value.
Impairment of long lived assets for the fourth quarter of 2016 was RMB 399,094,000.
The company currently expects to generate total net revenues in the range of RMB 0.84 billion to RMB 0.87 billion for the full year of 2017, representing year-over-year decrease of approximately 20% to 17%.