Significant events during the month
The May NAV declined by -3% m-on-m, attributable to lower cash balance (driven by net working capital outflows), while total NAV of the private investments remained unchanged.
Carmudi: NAV decreased by -3% m-on-m due to lower multiples in the Media & Classifieds segment, partially offset by increased Trading GMV. For May 2026, Carmudi generated c. 9 kUSD in pre-tax profit.
EveHR: NAV increased by +11% m-on-m driven by higher peer multiples alongside relatively flat gross profit. EveHR recorded a pre-tax loss of ca. -7 kUSD during May.