Kin Pang Holdings (01722) announced that the group expects to record a pre-tax loss of no more than MOP 21 million for the 2025 fiscal year. This compares to an audited pre-tax loss of approximately MOP 22 million for the 2024 fiscal year. The board of directors attributed the slight narrowing of the pre-tax loss in 2025 compared to the previous year primarily to a minor improvement in the gross profit margin of construction and supporting services projects, as well as a reduction in administrative expenses. However, these factors were partially offset by increased financing costs and provisions for impairment losses on financial assets under the expected credit loss model.