Sandmartin International (00482) announced that the group expects to record a consolidated net loss of not less than HK$127 million for the fiscal year ending December 31, 2025. This compares to a consolidated net loss of approximately HK$58.536 million reported for the year ended December 31, 2024. The projected consolidated net loss for the reporting period is primarily attributed to (i) a decrease in the group's revenue; (ii) an increase in expected credit loss provisions for financial assets; and (iii) a reduced fair value gain on the company's investment properties.