ShiFang Holding Limited provided earnings guidance for the year ended December 31, 2011. The Board informed the Shareholders and potential investors that the profit of the Group for the year ended 31 December 2011 is expected to decrease substantially as compared to the profit for the corresponding period ended 31 December 2010. Based on information currently available to the Company, the Board believes that the expected decrease in profit was mainly attributable to the uncertainty in the recoverability of certain trade receivables relating to the Group's advertising operations and the legal proceedings between Liaoning AoHai TianYi Media Advertisement Co. Ltd. and Shenyang Daily Agency and Shenyang Evening News Media Corporation Limited in connection with the comprehensive cooperation contract.