The board of directors of Huanxi Media Group Limited informed the shareholders of the company and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2020, the Group expects to record revenue not less than approximately HKD 630,000,000 (revenue of approximately HKD 814,000,000 was recorded for the year ended 31 December 2019) and loss in the range of approximately HKD 230,000,000 to HKD 240,000,000 for the year ended 31 December 2020 (profit of approximately HKD 105,000,000 was recorded for the year ended 31 December 2019).