Core Viewpoint - The company expects to report a loss in the first half of 2025, transitioning from a profit in the first half of 2024, with a projected loss of approximately HKD 12 million to HKD 14 million for equity holders [1] Financial Performance - For the first half of 2024, the company reported a profit of approximately HKD 2.25 million for equity holders [1] - The anticipated loss in 2025 is primarily due to a fair value loss of approximately HKD 7.06 million on financial assets, compared to a fair value gain of approximately HKD 15.08 million in the same period of 2024 [1] Asset Valuation - The fair value loss is related to the company's holdings in ordinary shares of Outward Questions Limited, which are listed on the Hong Kong Stock Exchange [1] - The fair value of these financial assets is estimated based on the market value of Outward Questions' ordinary shares [1]

Core Viewpoint - Vanke Overseas (01036) anticipates a shareholder loss of approximately HKD 101 million in the first half of 2025, compared to a loss of about HKD 29 million in the first half of 2024 [1] Financial Performance - The board attributes the anticipated shareholder loss primarily to an increase in the fair value loss of the group's investment properties [1] - Fair value losses are non-cash items and do not impact the group's operating cash flow [1] Financial Stability - Despite the losses, the company is committed to maintaining financial stability amid market fluctuations [1] - As of the announcement date, the company reports a net debt ratio of zero, indicating strong financial health [1] Operational Outlook - The company expects stable operations for its investment properties in the second half of 2025 [1]