Neo Telemedia Limited provided group earnings guidance for the eighteen months ended December 31, 2013. For the period, the group expects to incur a significant loss for the period ended December 13, 2013. The significant loss is mainly attributable to the impairment loss of intangible assets and goodwill arose from the acquisition of Ease Ray Limited, a subsidiary of the company engaging in design and production of traffic signboards and provision of electronic media services.

Due to the latest development of the operations of Ease Ray and its subsidiaries, the assumptions adopted for the valuation of Ease Ray Group have been revised. A significant impairment loss is expected based on the preliminary valuation results.