Core Viewpoint - China Iron Titanium (00893.HK) expects to record a net profit attributable to shareholders of approximately RMB 1.5 million in the first half of 2025, compared to a net loss of approximately RMB 0.2 million in the first half of 2024 [1] Financial Performance Summary - The estimated financial performance improvement for the first half of 2025 is primarily due to: - (a) (i) An increase in guarantee fee income and (ii) the termination of recognition of certain payables, leading to an increase in other income [1] - (b) A reduction in other expenses without the losses from the sale of fixed assets and certain non-recurring expenditures recorded in the first half of 2024 [1] - (c) A decrease in financial costs due to a decline in the average cost of funds in China [1] Operational Factors - The stable income sources from the group's facility management services support the increase in guarantee fee income [1] - The lower economies of scale are primarily impacted by higher environmental compliance costs and a decrease in production, which is attributed to ongoing upgrades and gradual expansion projects related to high-grade iron ore operations [1]