Phoenix Satellite Television Holdings Ltd. provided group earnings guidance for the six months ended June 30, 2015. The board of directors of the company announced that based on a preliminary review of the unaudited consolidated management accounts of the company, the group is expected to record a substantial decline in profit attributable to owners of the company to near break-even level or even a loss for the six-month period ended June 30, 2015 as compared to the profit attributable to owners of the company of approximately HKD 228,000,000 recorded in the corresponding period in 2014. Based on the unaudited information currently available, such expected decline was mainly due to: a decline in the demand of luxury goods in China which has led to a decrease in the advertising income of the television broadcasting segment; and an increase in operating costs for the six-month period ended June 30, 2015 as compared to that for the corresponding period in 2014 which is mainly attributable to the expansion of new media business.