Affected by foreign exchange losses, First Sponsor Group expects a net loss of 56.1 million yuan for the entire year of 2025 | Lianhe Zaobao

First Sponsor Group expects to record a net loss of RMB 58.6 million and RMB 56.1 million in the second half of 2025 and for the full year, respectively, mainly due to the appreciation of foreign currencies against the Singapore dollar leading to fair value losses on financial derivatives and foreign exchange losses. The majority of the group's asset investments are overseas and not denominated in Singapore dollars. To hedge against foreign exchange risks, the group manages risks through a combination of foreign currency debt and financial derivatives. It is expected that the financial derivatives maturing during the relevant periods will record net foreign exchange losses of RMB 21.4 million and RMB 20 million, respectively