The board of directors of Modern Media Holdings Limited informed the shareholders of the Company (the "Shareholders") and potential investors that based on preliminary review of management accounts of the Group, the Group expects to record a net profit not less than HKD 2 million for the year ended 31 December 2019 as compared to the net loss amounted to HKD 34.7 million for the year ended 31 December 2018. Based on the relevant information currently available to the Company, the Board considers that the expected turnaround from net loss to net profit of the Group was mainly due to the business growth in digital and art segments.