Asiaray Media Group Limited announced that the business of the Group for the year ended 31 December 2015 is expected to record an approximate 6% increase and approximately 90% decrease in its revenue and net profit after tax, respectively, for the year 2015 as compared with those of the year ended 31 December 2014, and, accordingly, the group expects there would be a loss attributable to owners of the company for the Year 2015. the increase in revenue was the net effect of the increase in revenue contributed from the metro media segment by an estimate of approximately 23%, primarily contributed by improved sales performance of businesses in Hong Kong and Shenzhen as well as additional revenue from new businesses in Wuxi and Beijing; and the decrease in revenue contributed from the airport media segment by an estimate of approximately 9%, mainly due to the worsened economic slowdown particularly in retail, banking and properties markets in China and contracted advertising spending from top-tier brands and state-owned enterprises sectors in both Hong Kong and China. The situation is further affected by the market sentiment caused by the sizable downward adjustment of the Chinese stock markets and the accelerated depreciation of Renminbi against U.S. dollars in the fourth quarter of 2015.

The decrease in net profit after tax was a composite effect of aforesaid decrease in revenue contributed from airport media segment, and an estimated increase of approximately 30% in the cost of revenue of the Group. Such increase was mainly due to the new media projects of five metro lines incepted since mid-2014 that were still in their ramp-up stage; and the expansion of media resources and the associated cost in an airport with media projects, for which the concession rights contract was renewed in the first half of 2015, at a rate faster than the growth of the corresponding revenue due to the aforesaid market factor.