BOJUN EDU announced that the group expects to record a net loss of approximately RMB 51.3 million to RMB 62.7 million for the six-month period ended February 28, 2026. This compares to a net loss of approximately RMB 9.9 million for the corresponding period ended February 28, 2025. The anticipated increase in loss is primarily attributed to a decline in revenue from the vocational education segment. Revenue for the six months ended February 28, 2026, was approximately RMB 180.8 million, a decrease of about RMB 26.7 million compared to the prior period. Revenue from the vocational education segment decreased by approximately RMB 24.5 million. Specifically, revenue from secondary vocational education decreased by about RMB 11.2 million, mainly due to a structural reduction in student intake caused by a decline in the total number of junior high school graduates and the ongoing expansion of enrollment in regular high schools. Revenue from higher vocational education decreased by approximately RMB 13.3 million, primarily due to a reduction in related government subsidies, collectively leading to a significant decline in overall revenue.