Bright Future (01351) announced that the group expects to record an attributable loss to company owners of no less than approximately RMB 50 million for the year ending December 31, 2025. This compares to an attributable loss of approximately RMB 6.49 million for the year ended December 31, 2024. The board of directors attributes the expected increase in the attributable loss for the 2025 fiscal year primarily to the following factors: (i) a decrease in gross profit due to rising advertising traffic costs, driven by changes in the economic environment and advertising platform policies during the year; (ii) an increase in expected credit losses on the group's trade and other receivables, resulting from the termination of business with one customer and the recognition of impairment losses on financial assets; and (iii) an increase in share-based compensation expenses due to the grant of treasury shares (repurchased in prior years) to eligible employees under the share incentive scheme during the reporting period. The group stated it will strengthen the management of its trade receivables, continue to optimize resource allocation, and work on improving its profitability.