MILLION CITIES (02892) expects a significant reduction in post-tax losses and losses attributable to shareholders for the fiscal year 2025.

Million Cities (02892) announced that for the fiscal year 2025, the group expects its post-tax loss to be between RMB 20 million and RMB 29 million (for the fiscal year ending December 31, 2024: RMB 143.5 million), and the loss attributable to equity shareholders of the company to be between RMB 15 million and RMB 21 million (for the fiscal year 2024: RMB 113.8 million). For the fiscal year 2024, the company recognized impairment losses on other receivables from its joint ventures, and made provisions for accrued interest on its joint ventures. These impairment losses and provisions were not recognized or made in the fiscal year 2025. In addition, for the fiscal year 2025, the group obtained inventory impairment amounts from its subsidiaries and joint ventures, as well as significantly reducing administrative expenses and taxes compared to the fiscal year 2024, and reversing excess tax provisions made in previous fiscal years. Therefore, the company expects that its post-tax loss and the loss attributable to equity shareholders will significantly decrease for the fiscal year 2025.