TIANGE (Tian Ge Interactive Holdings Limited) has alerted shareholders to an anticipated consolidated net loss not exceeding RMB15.00 million for the financial year ended 31 December 2025 (FY2025), a sharp reversal from the RMB19.90 million net profit recorded in FY2024.

Management attributes the expected downturn to three primary factors:

1. Increased product incubation costs: The company expanded simultaneous investments in multiple online interactive entertainment platforms across several regions, driving up development and operational expenses.

2. Fair value losses on financial assets: Unlisted equity investments registered valuation adjustments, reflecting changes in the operating and financial conditions of the underlying portfolio companies.

3. Fair value losses on investment properties: Softening property markets in both China and the U.K. led to downward revaluations of the Group’s investment property holdings.

The figures are derived from the Group’s latest unaudited management accounts and remain subject to audit. TIANGE plans to release its final FY2025 results on or around 30 March 2026.