Hygeia Healthcare (HKG:6078) expects net profit for the six months ended June 30 to fall 34% to 39% year-on-year, an Aug.15 Hong Kong bourse filing said.

Shares of the healthcare firm were down over 4% in Monday's late-afternoon trade.

Revenue for the period is expected to decrease by about 15% to 17% compared with the same period last year.

The company attributed the forecast to industry-wide factors, including centralized procurement, DRG payment reforms, macroeconomic headwinds, and higher depreciation and amortization from newly opened hospitals.