CRYPTO FLOW (08198) announced that the Group expects to record a net loss of not less than HK$23 million for the six months ended June 30, 2025 (subject to auditors' review and depending on the valuation of share options), compared to a net loss of approximately HK$3 million for the corresponding period ended June 30, 2024. The increase in net loss is primarily attributable to one-off share option expenses arising from share options granted during the period; increased research and development expenses for Web 3.0 business; and net impairment loss provision recognized under the expected credit loss model during the period, whereas impairment losses of approximately HK$5 million were reversed in the corresponding period last year.