Phoenix Media Investment (Holdings) Limited provided consolidated earnings guidance for the year ended 31 December 2021. For the period, it is expected that the loss attributable to the owners the owners of the Company recorded for the Year will be approximately HKD 500 million, as compared with the loss of approximately HKD 1.037 billion recorded for the year of 2020. The loss attributable to the owners of the Company of approximately HKD 1.037 billion for last year had included the share of fair value loss of the Group's internet media investment of approximately HKD 530 million in accordance with the accounting standards.

Since the disposal of investment in Yidian Zixun from the Internet media investment was completed on 19 October 2020, the fair value loss recorded for the Year is expected to be significantly reduced.