Metallurgical Corp. of China (HKG:1618, SHA:601618) said net profit attributable to shareholders is expected to fall to between 1.30 billion yuan and 1.60 billion yuan in 2025, down 76% to 81% from 6.75 billion yuan a year earlier, according to a Jan. 23 Hong Kong bourse filing.

Hong Kong-listed shares of the firm were up nearly 4% in Monday morning trade.

The company said the earnings drop was mainly driven by losses in its real estate business and impairment provisions on assets, including inventory, fixed assets, and investment properties.