The board of directors of the China 33 Media Group Limited is expected to record a loss for the three months ended 31 March 2015. The Board believes that the loss was mainly attributable to significant reduction in revenue from advertising on air traffic control towers at airports as customers had not renewed their contracts upon the expiry of the then contract period; cessation of periodical (Shanghai Railway) since September 2014 and high fixed costs including amortization of advertising agency fee, installation cost of outdoor advertising spaces and printing costs of the periodicals, which collectively led to a loss for the three months ended 31 March 2015.
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