Phoenix Satellite Television Holdings Ltd. provided group earnings guidance for the year ended December 31, 2015. For the year, the group is expected to record a slight profit attributable to owners of the company for the entire 2015, which demonstrated a recovery from the loss attributable to owners of the company of HKD 23 million recorded during the six-month period ended 30 June 2015. Despite the recovery, the group is expected a substantial decline in profit attributable to owners of the company for the year ended December 31, 2015 as compared with the previous year.

Based on unaudited information currently available, such expected decline is primarily due to:- (i) a decline in the demand of luxury goods in China which has led to a decrease in the advertising income of the television broadcasting segment; and (ii) an increase in operating costs as compared to that for the year 2014 which is mainly attributable to the expansion of new media business.