P99 Holdings Limited announced unaudited consolidated earnings results for the six months ended June 30, 2013. For the period, revenue was RMB 610,000 against RMB 163,000 a year ago period. Loss before income tax was RMB 8,132,000 against RMB 12,697,000 a year ago period.

Total loss for the financial period was RMB 8,132,000 against RMB 12,697,000 a year ago period. Net cash used in operating activities was RMB 5,417,000 against RMB 11,052,000 a year ago period. This was primarily due to losses incurred in the first half of 2013 and decrease in trade and other payables, which were partially offset by a decrease in other receivables and other current assets.

Purchase of plant and equipment was RMB 150,000 against RMB 951,000 a year ago period. Loss per share on fully diluted basis was 3.98 cents against 7.42 cents a year ago period. Net asset value per ordinary share based on number of shares issued at the end of the financial period was 41.20 cents.

The increase in revenue was due to the contribution from two new Pele Café outlets in Beijing which opened in May 2012 and July 2012 respectively.