Sheng Yuan (HKG:0851) expects a net profit of at least HK$28 million for the year 2024, compared with a net loss of HK$27.8 million a year prior, a Tuesday filing with the Hong Kong bourse said.

The securities broker attributed the anticipated turnaround to profit mainly to a higher revenue amid the successful execution of financial advisory services and general escrow services agreements, as well as the signing of an investment advisory agreement in 2024.