Yulong Eco-Materials Limited announced unaudited consolidated financial results for the second quarter and six-month ended December 31, 2017. For the quarter, the company reported total revenues of $38,722,623 against $42,644,431 a year ago. Loss from operations was $46,337,896 against $49,500,224 a year ago. Loss before income taxes was $2,432,305 against $49,832,784 a year ago. Net loss was $2,238,531 against $53,190,023 a year ago. Basic and diluted loss per share was $0.19 against basic and diluted earnings per share of $22.3 a year ago.

For the six months, the company reported total revenues of $39,634,178 against $43,467,137 a year ago. Loss from operations was $52,888,519 against $47,982,025 a year ago. Loss before income taxes was $5,153,290 against $49,832,784 a year ago. Net loss was $5,077,307 against $53,190,023 a year ago. Basic and diluted loss per share was $0.42 against basic and diluted earnings per share of $22.3 a year ago. Net cash provided by operating activities was $4,649,159 against net cash used in operating activities of $3,619,319 a year ago. Payment for equipment and construction in progress was $367,467 against $376,332 a year ago. Prepayments for construction-in-progress were $55,377 against $1,418,559 a year ago. Payment for land use rights was $5,398.

For the quarter, the company reported impairment loss on fixed assets and intangible assets of $49,048,050 against $50,357,301 a year ago. Impairment loss on intangible assets was $2,160,467 against $2,328,014 a year ago.