Shanghai Realway Capital Assets Management Co., Ltd. (REALWAY CAPITAL, 01835) forecast a consolidated net loss of up to RMB30.00 million for the year ended 31 December 2025, according to a profit-warning announcement filed with the Hong Kong Stock Exchange on 20 March 2026.

The projected loss compares with an audited net loss of approximately RMB13.20 million for FY2024. Management attributed the anticipated deterioration to two main factors:

1. Fair-value pressure: Continuing weakness in China’s property market has eroded the carrying values of the Group’s investment properties and the assets held through associates and joint ventures. 2. Credit-loss provisions: A delayed recovery of certain receivables prompted expected-credit-loss provisions for FY2025, contrasting with a reversal of impairment recorded in the prior year.

The figures are based on the Board’s preliminary, unaudited review and remain subject to audit and audit-committee review. Final FY2025 results are scheduled for release in late March 2026.

The Board advised shareholders and prospective investors to exercise caution when trading the company’s shares.