SMIT (02239) announced that compared to the net profit of approximately US$15.1 million for the six months ended June 30, 2024, the Group expects to record a net loss of no more than US$16 million for the six months ended June 30, 2025.

The loss for the six months ended June 30, 2025, is primarily attributable to the Group's share of losses from associate companies, arising from their continued investment in research and development activities, and revaluation losses from an investee company measured at fair value, amounting to approximately US$10.2 million and US$2.8 million respectively.

These losses are non-cash items and will not impose any cash burden on the Group's cash flow management.