Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited

take no responsibility for the contents of this announcement, make no representation as to

its accuracy or completeness and expressly disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code: 100)

TRADING AND BUSINESS UPDATE

This announcement is made by Clear Media Limited (the “Company”, together with its
subsidiaries, the “Group”) on a voluntary basis.

Reference is made to the Company’s trading update announcement dated 23 April 2019,
the profit warning announcement dated 20 May 2019, the trading and business update
announcement dated 31 July 2019 and the interim results announcement for the six months
ended 30 June 2019 dated 15 August 2019 (the “Announcements”) and the Company’s
interim report for the six months ended 30 June 2019 (the “Interim Report”). As disclosed
in the Announcements and the Interim Report, due to the rising uncertainties caused by the
external environment and China’s slower economic growth, and the overall advertisement
market in the PRC, including the overall outdoor advertisement market, a majority of
customers from the e-commerce and IT industries have remained cautious with their spending.
The trend continued in the third quarter of 2019. Accordingly, the Group’s revenue for
the nine months ended 30 September 2019 was approximately RMB1,114 million, which
was a 19.1% decline compared with that of the corresponding period in 2018 (Q3 2018:
approximately RMB1,377 million). In the absence of any significant improvement in revenue
in the fourth quarter of 2019, the sales for the full year of 2019 is expected to record a double
digit decline as compared to 2018. Also taking into account the increase in costs and expenses,
and the adoption of Hong Kong Financial Reporting Standard – HKFRS 16 leases, the Group
currently expects to record a net loss attributable to the owners of the parent for the full year
of 2019.

As disclosed in the Announcements and the Interim Report, the Group’s strategy this year is
to broaden its customer base and lessen its dependence on large customers from the e-commerce
and IT industries. A number of cost savings initiatives are also being implemented in view
of the challenging trading conditions. The Company remains cautious about the operating
environment in 2019 as uncertainty continues in the overall China economy.

As at 30 September 2019, the Group’s total cash and cash equivalents amounted to
approximately RMB398 million (30 September 2018: approximately RMB403 million).

* For identification purposes only

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The information contained in this announcement is based on the Group’s unaudited
management accounts for the first nine months of 2019 and a preliminary assessment of the
Group’s internal management information currently available. Such information has neither
been reviewed nor audited by the Company’s auditors or reviewed by the audit committee
of the board of directors of the Company, and may be subject to further adjustment based on
further updated information.

Shareholders and potential investors are advised to exercise caution when dealing in the
securities of the Company.

By order of the Board of

Clear Media Limited
Jeffrey Yip
Company Secretary

Hong Kong, 6 November 2019

As at the date of this announcement, the directors of the Company are:

Executive Directors: Independent Non-executive Directors:

Mr. Joseph Tcheng Mr. Robert Gazzi
Mr. Han Zi Jing Mr. Wang Shou Zhi
Mr. Zhang Huai Jun Mr. Thomas Manning
Mr. Christopher Thomas

Non-executive Directors: Alternate Directors:

Mr. William Eccleshare Mr. Zou Nan Feng
Mr. Peter Cosgrove (Alternate to Mr. Zhang Huai Jun)
Mr. Zhu Jia Mr. Adam Tow
Mr. Michael Saunter (Alternate to Mr. William Eccleshare)

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