MILLION CITIES (02892) announced that for the 2025 fiscal year, the Group expects its post-tax loss to be between RMB 20 million and RMB 29 million (for the year ended December 31, 2024, the 2024 fiscal year: RMB 143.5 million). The loss attributable to the company's equity shareholders is expected to be between RMB 15 million and RMB 21 million (2024 fiscal year: RMB 113.8 million).

In the 2024 fiscal year, the company recognized an impairment loss on other receivables from its associates and made provisions for accrued interest related to its associates. The company did not recognize such impairment losses or make related provisions in the 2025 fiscal year.

Furthermore, during the 2025 fiscal year, the Group recorded a significantly lower amount of inventory impairment from subsidiaries and associates, along with reduced administrative expenses and taxes, compared to the 2024 fiscal year. Additionally, there was a reversal of excess tax provisions accrued in previous fiscal years.

Consequently, the company anticipates a substantial decrease in both the post-tax loss and the loss attributable to its equity shareholders for the 2025 fiscal year.