VCREDIT Holdings Limited (Stock Code: 2003) issued an announcement on 13 February 2026, projecting a consolidated net loss in the range of RMB 500.00 million to RMB 600.00 million, and a Non-IFRS adjusted net loss in the same range for the year ended 31 December 2025. This contrasts with the consolidated net profit of RMB 478.20 million and Non-IFRS adjusted net profit of RMB 478.70 million for the year ended 31 December 2024.

The announcement attributes the anticipated loss to a challenging macroeconomic environment and reduced credit liquidity since the second half of 2025, which put pressure on the consumer finance market. In addition, evolving financial regulations, including Document No. 9 [2025] issued by the National Financial Regulatory Administration, introduced short-term volatility in the sector. The resulting impact included a rising delinquency ratio for loan repayments and a decline in loan origination volume in the latter half of 2025.

In response to uncertain market conditions, the Group implemented a series of adjustments to reduce risk exposure, such as focusing on higher-quality customer segments, optimizing acquisition channels, and employing more individualized collection policies. These measures led to an improvement in the first payment delinquency ratio, which dropped from 1.10% in Q3 2025 to 0.85% by the end of 2025.

The figures in the announcement are based on the latest unaudited information and preliminary assessments of the Group’s financial statements. The final audited results for 2025 are expected to be released in March 2026. The announcement advises investors and shareholders to exercise caution when dealing in the securities of VCREDIT Holdings Limited.