Mulsanne Group (HKG:1817) expects a net profit of between 8.5 million yuan and 9.5 million yuan in the first half of 2025, up 25% to 40% from a year prior, a late Thursday filing with the Hong Kong bourse said.

Shares of the retail platform operator were down 9% in Friday afternoon trading.

The firm attributed the forecast to strengthened expense control leading to a decrease in the proportion of administrative and financial expenses to revenue.