Neo Telemedia Limited provided earnings guidance for the year ended December 31, 2018. The board informs the shareholders of the company and potential investors that, based on the information currently available to the Board, the Group is expected to record a loss attributable to the owners of the Company for the year ended 31 December 2018 as compared to a profit attributable to the owners of the company for the year ended 31 December 2017. The Board considers that the Expected Loss is mainly due to the following factors: impairment losses of goodwill and intangible assets of approximately HKD 13.9 million and HKD 14.4 million respectively in relation to and its Internet finance platform business, primarily attributable to the fact that Avatar is still in the process of carrying out rectification work on the operations of its Internet finance platform in accordance with the regulations issued by the local financial regulatory department. However, the possibility to complete the relevant filings is still uncertain. impairment loss of goodwill of approximately HKD 50 million in relation to Million Ace Limited and its subsidiaries and its sales of telecommunication products business, primarily attributable to the downturn and keen competition of the global mobile business environment which negatively affects the future expected revenue of Million Ace Group's sales of telecommunication products business. write-off of accounts receivable of approximately HKD 37 million in relation to the Internet finance platform business as the recoverability of such receivables became uncertain.