Asiaray Media Group Limited provided group earning guidance for the year ended December 31, 2019. The board of directors of the company informed the shareholders of the company and potential investors that the Group is expected to record a loss attributable to owners of the company for the year ended 31 December 2019 as compared with a profit attributable to owners of the company for the year ended 31 December 2018. The expected loss is primarily attributable to the factors which were mentioned in the company's announcement dated 26 July 2019 in relation to the Profit Warning, including the adverse effects resulting from the adoption of the Hong Kong Financial Reporting Standard 16 Leases which became effective from 1 January 2019; and the launch of new projects such as Haikou Meilan Airport, Beijing Metro Line and Wenzhou Metro Line, which are still in the process of ramp-up. The revenue of these projects is in a growing stage but the cost of the concession fee is recognised.