MINSHENG EDU (01569) announced that the group expects to record a net loss (excluding (i) any financial impact related to arbitration, if applicable; and (ii) any impairment losses on goodwill and intangible assets, if applicable) of not less than RMB 210 million for the current period (the year ending December 31, 2025). This compares to a net profit (excluding any impairment losses on goodwill and intangible assets) of approximately RMB 188 million for the year ended December 31, 2024. The primary reasons for the net loss are as follows: During the current period, the group's online education operations were affected by market conditions, leading to a significant year-on-year decline in revenue from these operations compared to the year ended December 31, 2024, resulting in the net loss for the period. Furthermore, during the current period, the group's schools in China continued to increase their investment in educational operations, leading to a substantial year-on-year increase in related costs compared to the year ended December 31, 2024.