Core Viewpoint - Jianfa Xingsheng (00731) reported a net loss of HKD 41.16 million for the first half of 2025, representing a year-on-year increase of 21.7% in losses, attributed to a decline in revenue and pricing pressures in the paper products market [1] Financial Performance - The company's revenue for the first half of 2025 was HKD 640 million, a decrease of 3.7% year-on-year [1] - The basic loss per share was HKD 0.029 [1] Market Conditions - The decline in revenue is primarily due to a complex and changing international trade environment, weak consumer market recovery, and overall pricing pressure in the packaging paper market, leading to a drop in unit selling prices for paper products [1]