Suning.com (SHE:002024) expects to record a net profit attributable to shareholders of between 500 million yuan and 700 million yuan in 2024, swinging from the year-ago loss of 4.09 billion yuan, according to a Shenzhen Stock Exchange filing on Tuesday.

Earnings per share will be between 0.054 yuan and 0.076 yuan, compared to loss per share of 0.45 yuan in the prior year.

The Chinese online retailer attributed the forecast to the recovery of the retail industry.

The company's shares dropped over 2% in recent trade.