ShiFang Holding Limited provided earnings guidance for the full year ended December 31, 2012. The Group is expected to record a loss for the year ended December 31, 2012 as compared to the profit recorded for the year ended December 31, 2011. The anticipated loss was mainly attributable to the PRC government's continuing adjustment measures on the implementation of the real estate industry which results in the reduced advertising orders from real estate developers and other related industries, consequently the annual business receipts of the company decreased as compared to 2011; the advertisement distribution agreement entered into with the Shenyang Evening News was terminated in July 2011 due to contractual disputes between the parties; the expiry of the exclusive real estate advertising agreement entered into with the Dalian Daily and the continuing uncertainty of the recoverability of certain receivables and the continuing need to make provision for bad debts.