FUDANZHANGJIANG (01349) dropped 4% during the trading session. As of the time of writing, the stock was down 3.69%, trading at HK$3.13, with a turnover of HK$3.7159 million. The company announced that the group expects to record an unaudited net loss attributable to owners of the parent company of approximately RMB 120 million to RMB 180 million for the year ending December 31, 2025, compared to a net profit of RMB 39.7339 million for the same period in 2024. Furthermore, the unaudited net loss attributable to owners of the parent company, after deducting non-recurring gains and losses, is projected to be approximately RMB 140 million to RMB 200 million, versus a net profit of RMB 5.1452 million after deducting non-recurring items in 2024. The company attributed the anticipated loss to advancing its R&D projects, leading to a continuous increase in the proportion of R&D expenditure relative to operating revenue. R&D investment during the period amounted to approximately RMB 350 million. Additionally, the market retail price for the product Libao Duo was reduced starting May 1 last year. This price cut resulted in a decline in the profit margin for Libao Duo. Consequently, the product's contribution to the group's profit decreased by approximately RMB 100 million year-on-year.