Heizhima Intelligent announced that, based on the Board's preliminary assessment of the Group's six months ending June 30, 2025, while the Group expects revenue to exceed RMB250 million during the period, representing an increase of over 38% compared to the same period in 2024, the Group expects to incur a net loss of no more than RMB800 million during the period. This is primarily attributable to (i) share-based compensation expenses of no less than RMB200 million incurred in connection with employee incentives; (ii) the Group's efforts and expenses incurred in the research and development of advanced driver assistance systems and solutions; and (iii) a decrease in fair value gains on financial instruments issued to investors due to the conversion of preferred shares into ordinary shares following the listing of the Company's shares on the Stock Exchange of Hong Kong Limited.