MILLION CITIES (02892) announced that the group expects for the six months ended June 30, 2025: (i) its after-tax loss will be approximately RMB 1 million to RMB 5 million (six months ended June 30, 2024: RMB 65.2 million); and (ii) the loss attributable to equity shareholders of the company will be approximately RMB 500,000 to RMB 5 million (2024 interim: RMB 61.7 million). The board of directors emphasizes that during the 2024 interim period, the company (a) recognized impairment losses on other receivables from the company's associates; and (b) made provisions for accrued interest from the company's associates. The company did not recognize such impairment losses or make related provisions during the 2025 interim period. Additionally, administrative expenses and taxes both decreased significantly compared to the 2024 interim period. Therefore, the company expects that the after-tax loss and loss attributable to equity shareholders during the 2025 interim period will be substantially reduced.