Excellence CM Services (06989) announced that it expects the profit attributable to equity shareholders for the 2025 fiscal year to decrease by approximately 60% to 70% compared to the year ended December 31, 2024. The reduction in profit is primarily attributed to two factors: (i) an increase in impairment losses on trade receivables from related parties due to the group's proactive efforts to clear long-outstanding balances; and (ii) the recognition of a full provision for financial guarantee obligations, in accordance with Hong Kong Financial Reporting Standards, following a final court ruling on a case involving Beijing Universal Wealth, a non-wholly owned subsidiary of the group. Despite the profit decline, the group's cash flow position improved compared to the same period last year, with relatively sufficient liquidity reserves. Based on preliminary estimates from management accounts, the group's unaudited net cash generated from operating activities for the twelve months ended December 31, 2025, turned positive from a negative position. It is also anticipated that the group's unaudited total cash balance, including cash and cash equivalents, time deposits, restricted bank deposits, wealth management products, and other investments, will be no less than RMB 1.3 billion as of December 31, 2025, compared to approximately RMB 1.084 billion as of December 31, 2024.