Zibuyu Group (HKG:2420) expects a net profit of between 140 million yuan and 160 million yuan for 2024, compared with a net loss of 265.8 million yuan a year prior, a Tuesday filing with the Hong Kong bourse said.

The e-commerce company attributed the anticipated turnaround to profit mainly to a significant decrease in inventory impairment, leading to lower warehousing costs, and a rise in revenue.