Core Viewpoint - The company, Tian Ge Interactive (01980), anticipates a significant decline in earnings for the first half of 2025, projecting revenues of approximately RMB 32.4 million compared to RMB 5.3 million for the six months ending June 30, 2024, and a shift from net profit to net loss due to increased product incubation costs and fair value losses from financial investments [1] Financial Performance - Expected revenue for the first half of 2025 is approximately RMB 32.4 million [1] - Revenue for the six months ending June 30, 2024, is approximately RMB 5.3 million [1] - Projected net loss for the relevant period is approximately RMB 22.4 million, contrasting with a net profit of approximately RMB 44.1 million for the six months ending June 30, 2024 [1] Reasons for Financial Changes - The primary reasons for the transition from net profit to net loss include: - Increased product incubation costs due to the company's strategy of investing and incubating multiple online interactive entertainment platforms across various regions, leading to higher resource allocation [1] - Fair value losses attributed to macroeconomic factors, including the imposition of reciprocal tariffs, affecting the company's financial investments [1] Operational Stability - Despite the unfavorable financial outlook, the company's operations and cash flow remain stable during the relevant period [1]

Core Viewpoint - CNT GROUP (00701) anticipates a significant increase in shareholder losses for the six months ending June 2025, projecting losses between HKD 36 million and HKD 40 million, compared to HKD 13.5 million for the same period ending June 30, 2024 [1] Group 1 - The estimated shareholder losses for the six months ending June 2025 represent a substantial increase, primarily due to a significant rise in fair value losses on investment properties in Hong Kong and mainland China [1] - The fair value losses for the six months ending June 30, 2024, were approximately HKD 11.6 million [1] - There were no one-time recoveries of defense costs related to derivative litigation amounting to approximately HKD 6.4 million for the six months ending June 30, 2024 [1] Group 2 - The company’s non-wholly owned subsidiary, Zhongqi Group Limited (01932), also contributed to significant shareholder losses [1] - Despite the increase in fair value losses, these losses are non-cash in nature and do not impact the company's operating cash flow [1] - The overall financial position of the company remains stable [1]