FIRST SERVICE Holdings (02107) announced that the group expects its net loss for the fiscal year ending December 31, 2025, to not exceed RMB 40 million. This compares to a net loss of approximately RMB 6.3 million for the fiscal year ended December 31, 2024. The anticipated increase in loss is primarily attributed to an impairment provision for goodwill. This provision was recognized because the operational performance of the acquired subsidiary, Qingdao Luohang Enterprise Management Co., Ltd., fell short of expectations in 2025, and its future business expansion and profit recovery are expected to face challenges.