Chu Kong Shipping (HKG:0560) expects to report a first-half profit attributable to shareholders of between HK$20 million and HK$30 million, down from HK$67.1 million a year prior, according to a July 11 Hong Kong bourse filing.

Shares of the company were down about 9% in Monday morning trade.

The company cited the 55% to 70% profit drop to reduced cargo volume due to renewed US-China trade tensions and a decline in cross-border passenger transport following the opening of the Shenzhen-Zhongshan Link in mid-2024.

Interim results are expected by the end of August, the filing said.