China Cablecom 6K Holdings, Ltd. Reports Second Quarter 2008 Financial Results | CCCWF 11 Sep 08

China Cablecom Holdings is a joint-venture provider of cable television services in the People's Republic of China, operating in partnership with a local state-owned enterprise ("SOE") authorized by the PRC government to control the distribution of cable TV services through the deployment of analog and digital cable services. China Cablecom recently consummated an agreement to acquire a 60 percent economic interest in a cable network in Hubei province with paying subscribers exceeding 800,000. The Company originally acquired operating rights of the Binzhou Broadcasting network in Binzhou, Shandong Province in September 2007 by entering into a series of asset purchase and services agreements with a company organized by SOEs owned directly or indirectly by local branches of SARFT in five different municipalities to serve as a holding company of the relevant businesses. China Cablecom now operates 22 cable networks with over 1.2 million paying subscribers. China Cablecom Holdings' strategy is to replicate the acquisitions by operating partnership models in other municipalities and provinces in the PRC and then introducing operating efficiencies and increasing service offerings in the networks it operates.

Safe Harbor Statement

The matters discussed in this press release contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation and in the Company's other written and oral reports are based on current Company expectations and are subject to risks and uncertainties, which could cause actual results to differ materially. Any forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained herein. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements herein speak only as of the date stated herein and might not occur in light of these risks, uncertainties, and assumptions. China Cablecom Holdings undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You should carefully consider these factors as well as the additional risk factors outlined in the filings that China Cablecom Holdings makes with the U.S. Securities and Exchange Commission, including the Registration Statement on Form S-1 filed on April 18, 2008.

CHINA CABLECOM HOLDINGS LIMITED
Unaudited Consolidated Balance Sheets (in US dollars, except share data)
	June 30,		December 31,
	2008		2007
	(Unaudited)		(Audited)
Assets
Current assets:
Cash and cash equivalents	29,170,374		12,638,574
Restricted cash	-		-
Accounts receivable	1,418		-
Prepaid expenses and other receivables	7,657,501		668,518
Inventories	1,972,517		766,120
Note receivable	-		237,500
Due from related company	-		-
Assets to be used by noncontrolling
("minority") interest	2,008,729		1,883,769
	40,810,539		16,194,481
Property, Plant & Equipments, Net	21,017,972		20,721,845
Construction In Progress	1,153,746		1,242,289
Intangible assets, net	17,613,714		18,362,729
Other assets:
Note receivable	-		237,500
Deferred financing costs, net (bridge)	702,134		1,188,020
Deferred acquisition costs, net	0		971,622
Deferred acquisition costs, Wuhan	17,804,629		-
Deferred financing costs, net
(Convertible)	1,221,659		-
Deemed receivable from noncontrolling
("minority") interest for settlement
of certain net liabilities	11,279,327		10,577,656
Total assets	111,603,720		69,496,142
Liabilities and Stockholder's Equity
Current Liabilities:
Current portion of long term debt
- net of discount	8,284,114		9,617,646
Accounts payable	1,523,195		2,460,843
Service performance obligation-deferred
revenue assumed	3,081,336		110,745
Other current liabilities	687,805		1,378,135
Note payable-non controlling interest	16,660,661		17,218,612
Liabilities to be settled by
noncontrolling ("minority") interest	13,288,057		12,461,425
	43,525,167		43,247,406
Long Term Liabilities :
Note payable - noncontrolling ("minority")
interest, net of current portion	18,643,845		17,046,817
Convertible notes, net of discount
and current portion	12,702,548
Notes payable, net of discount
and current portion	-		7,477,822
	74,871,561		67,772,045
Noncontrolling ("minority")interest	338,099		21,883
Stockholder's equity
Common stock, $.0005 par value;
40,000,000 authorized shares,
9,308,031 shares and 0 shares issued
and outstanding at June 31, 2008 and
December 31, 2007, respectively	4,654		-
Additional paid in capital	43,329,247		3,577,070
Statutory reserve	46,269		46,269
Accumulated deficit	(7,408,484	)	(2,274,783	)
Accumulated other comprehensive income	422,374		353,658
	36,394,060		1,702,214
Total liabilities and
stockholders' equity	111,603,720		69,496,142

CHINA CABLECOM HOLDINGS LIMITED
Unaudited Consolidated Statements of Operations (in US dollars, except share data)
	Quarter			Six months
	ended			ended			Year ended
	June 30,			June 30,			December 31,
	2008			2008			2007
	(Unaudited)			(Unaudited)			(Audited)

Revenues		2,286,451			4,290,217			1,994,773
Cost of sales		1,233,395			2,315,367			1,016,766
Gross profit		1,053,056			1,974,850			978,007
Expenses
Selling expenses					-			66,853
Amortization expenses		661,469			1,278,919			-
General and administrative expenses		1,608,814			2,617,618			1,595,106
Loss from operations		(1,217,228	)		(1,921,688	)		(683,952	)
Other income and (expenses)
Interest income		255,007			271,988			66,692
Other income		2,513			67,847
Interest expense		(1,892,121	)		(2,969,664	)		(1,473,766	)
Other expenses		(399	)		(399	)		(3,625	)
Loss before income taxes		(2,852,227	)		(4,551,915	)		(2,094,651	)
Income taxes		(137,756	)		(265,570	)		(40,202	)
Loss from operations before
noncontrolling ("minority") interest		(2,989,983	)		(4,817,485	)		(2,134,853	)
Noncontrolling ("minority") interest in income		(162,874	)		(316,216	)		(20,551	)
Net loss		(3,152,857	)		(5,133,701	)		(2,155,404	)
Other comprehensive income
Foreign currency translation
difference		(335,933	)		68,716			353,658
Net comprehensive loss		(3,488,790	)		(5,064,985	)		(1,801,746	)
Loss per share		(0.38	)		(1.00	)
Weighted average shares		8,230,501			5,149,090

Non-GAAP Financial Measures

This release contains discussion of China Cablecom's revenues, and projected and pro forma revenues, as well as earnings before interest, taxes, depreciation and amortization (EBITDA) and projected/pro forma EBITDA and EBITDA. Although EBITDA and projected/pro forma EBITDA are not measures of financial condition or performance determined in accordance with GAAP, China Cablecom uses EBITDA to value businesses it acquires or anticipates acquiring. EBITDA and projected/pro forma EBITDA are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies unless the definition is the same.

Below is a table reconciling certain non-GAAP financial measures appearing elsewhere herein relating to China Cablecom to the most closely analogous GAAP measures:

CHINA CABLECOM HOLDINGS LIMITED
Non-GAAP financial reconciliation (in US dollars, except share data)
	Quarter			Six months
	ended			ended			Year ended
	June 30,			June 30,			December 31,
	2008			2008			2007
Net comprehensive loss		(3,488,790	)		(5,064,985	)		(1,801,746	)
Amortization		661,468			1,278,919			649,487
Depreciation		611,949			1,190,284			333,107
Interest income		(255,007	)		(271,988	)		(66,692	)
Interest & finance		1,892,121			2,969,664			1,473,766
Income tax		82,654			159,342			24,121
Non-GAAP Income (EBITDA)		(495,606	)		261,235			612,043

China Cablecom Holdings, Ltd.

www.chinacablecom.net

CONTACT: Debra Chen (917-499-8129)

Email: debra@chinacablecom.net

______________________________

	Quarter ended June 30,						Six months ended June 30,
(unaudited)		2008		2007	%			2008		2007	%

Binzhou
Broadcasting
Revenue	$	2,286,451	$	1,940,771	18	%	$	4,290,217	$	4,424,554	-3	%
EBITDA
- 60% share	$	909,437	$	791,972	15	%	$	1,779,322	$	1,691,833	5	%

Non-financial
metrics:
Paying
subscribers		470,111		442,900	6	%		470,111		442,900	6	%
ARPU	$	1.35	$	1.15			$	1.36	$	1.15

Hubei Chutian (1)
Revenue	$	6,435,371	$	4,714,323	37	%	$	12,511,457	$	9,272,814	35	%
EBITDA
- 60% share	$	1,701,665	$	1,265,801	34	%	$	3,196,649	$	2,438,311	31	%

Non-financial
metrics:
Paying
subscribers		862,983		724,622	19	%		862,983		724,622	19	%
ARPU	$	2.05	$	2.05			$	2.05	$	2.05

Consolidated pro forma
China Cablecom (1)
Revenues	$	26.3	$	16.8
EBITDA	$	7.3	$	3.5

China Cablecom (CCCWF) Inactive 6-KChina Cablecom Holdings, Ltd. Reports Second Quarter 2008 Financial Results