Ruicheng (China) Media Group Limited provided earnings guidance for the year ended 31 December 2020. For the year, the Group expects to record a decrease in revenue of over 40% from approximately RMB 845.8 million for the year ended 31 December 2019; and a decrease in net profit of over 70% from approximately RMB36.3 million for the year ended 31 December 2019. The decrease in revenue and net profit is mainly attributable to: Certain of the Group's customers operate in the food and beverage industry and the fast moving consumer goods industry; For the Group's TV advertising services, the outbreak of the novel coronavirus (the "COVID-19") in the People's Republic of China (the "PRC") has impeded, among others, the food and beverage industry in 2020, which has in turn led to a decreased volume of advertisement placing by customers engaged in the food and beverage industry; and For the Group's online advertising services, the outbreak of the COVID-19 in the PRC has led to the closing down of a large number of industry players in the fast moving consumer goods industry, which in turn has led a decrease in volume of advertisement placing by mid- to small-size customers in 2020. Some of the Group's customers also suspended their advertisement placing for mobile games.