Glory Sun Land Group (HKG:0299) expects to post a net loss of no more than HK$245 million for the first half of 2025, narrowing sharply from a loss of about HK$1.57 billion a year earlier, according to a Friday Hong Kong bourse filing.

The company cited lower revenue from the prolonged downturn in China's property market, a decline in the fair value of investment properties, and impairment losses tied to demolition-related prepayments for a land redevelopment project.

Glory Sun will release its interim results on Aug. 29.