Mokingran Jewellery Group (HKG:2585) expects to post a loss attributable to owners of 65 million yuan to 72 million yuan for the six months ended June 30, compared with a profit of 47.4 million yuan a year earlier, according to a Thursday Hong Kong bourse filing.

Revenue is forecast at 10.4 billion yuan to 10.5 billion yuan, up 4.2% to 5.2% from a year ago, while overseas revenue is projected to surge nearly fourfold.

The expected swing to loss was mainly due to increased losses on Au(T+D) contracts and gold loans, which are expected at 680 million yuan to 700 million yuan, compared with 345.7 million yuan a year earlier, as rising gold prices in the first half weighed on hedging positions.