ASIA RAY (01993) Announces Profit Expected to Reach Approximately RMB 14.6 million in the Mid-Term, Turning Loss into Profit on a Year-on-Year Basis.

ASIARAY (01993) announced that it is expected to achieve a net profit of approximately RMB 14.6 million for the six months ending on June 30, 2025, while it incurred a net loss of approximately RMB 7.6 million for the six months ending on June 30, 2024. The board of directors believes that the turnaround from net loss to net profit is mainly due to the following factors compared to the previous period: (i) improvement in operating performance after terminating underperforming projects; (ii) reduction in royalties for certain projects; and (iii) improvement in cost control strategies.