ZACD Group (08313) has announced that the company expects to report a net loss of approximately SGD 4.69 million for the fiscal year ending December 31, 2025. This represents a significant increase compared to the net loss of about SGD 1.2 million recorded in the previous year, with the loss widening by roughly SGD 3.49 million, or 290.8%. The anticipated rise in net loss is primarily attributed to several factors: (i) a decrease in revenue from approximately SGD 4.96 million in the prior year to about SGD 2.7 million in the current reporting year, mainly due to reduced dividend income, management fees, fund establishment fees, and performance fees from the Group's fund management division and its acquisitions and project management division; (ii) a decline in other income from around SGD 1.08 million last year to approximately SGD 0.52 million this year; (iii) the recognition of a one-time impairment loss of at least SGD 3.29 million, which includes credit impairments related to transitional advances provided to certain funds and receivables from funds and associated parties; and (iv) an increase in interest expenses of about SGD 0.28 million. These negative impacts were partially offset by a fair value gain on financial derivatives of approximately SGD 0.77 million, a reduction in employee costs of about SGD 0.78 million, a decrease in other expenses of around SGD 0.18 million, and a reduction in income tax expenses of approximately SGD 1.2 million.