Core Viewpoint - Tian Tu Investment (01973) is expected to achieve a net profit of approximately RMB 60 million to RMB 90 million for the six months ending June 30, 2025, a significant turnaround from a net loss of approximately RMB 742 million in the same period last year [1] Group Summary - The turnaround from a net loss in the first half of 2024 to profitability in the current period is primarily attributed to the increase in the fair value of the group's investment portfolio, leading to a rise in financial assets measured at fair value with changes recognized in profit or loss [1] - The fair value of the group's investment portfolio increased in the first half of 2025, driven by continuous growth in the business of some portfolio companies, supported by a steady recovery in consumer confidence amid macroeconomic recovery [1] - The overall positive market momentum and strong performance of the consumer sector in the secondary market significantly boosted the trading prices of the group's listed investments in the consumer field [1]

集团投资组合的公允价值于2025年上半年有所上升，主要受以下因素驱动：部分投资组合公司的业务持 续增长，得益于宏观经济环境复苏中消费者信心的稳步回升;及受市场整体向好势头以及消费行业在二 级市场中的强劲表现所推动，集团所持的已上市消费领域投资的交易价格显著回升。 天图投资(01973)发布公告，截至2025年6月30日止6个月，集团预计将取得约人民币6000万元至人民币 9000万元的纯利，而去年同期的净亏损约为人民币7.42亿元。从2024年前6个月的净亏损到今年同期取 得盈利的扭转，主要归因于集团投资组合的公允价值上升，导致以公允价值计量且其变动计入当期损益 的金融资产金额增加。 ...