Minsheng Education Group (HKG:1569) expects a net loss of at least 210 million yuan for the year 2025, compared with a net profit of 187.8 million yuan a year prior, according to a March 13 Hong Kong bourse filing.

Shares of the educational services provider were down nearly 5% in Monday afternoon trading.

The firm attributed the forecast to a substantially lower revenue from online education entities, as well as higher costs related to a rise in investment in school operations by some operating schools in China.