Sino-Ocean Group (HKG:3377) expects to report an attributable profit of between 9.5 billion yuan and 11 billion yuan for the first half, compared with a loss of 5.38 billion yuan a year earlier, according to a Wednesday Hong Kong bourse filing.

Shares of the property development firm gained over 7% in Thursday's late-afternoon trade.

The company said the turnaround was mainly driven by non-cash gains from the completion of its offshore debt restructuring.

Interim results are expected by the end of August.