Zhongsheng (HKG:0881) expects to record a loss attributable to owners of no more than 2 billion yuan for 2025, compared with a profit of 3.2 billion yuan a year earlier, according to a Friday Hong Kong bourse filing.

Shares of the automobile distributor fell nearly 15% in late morning trade on Monday.

The expected loss was mainly attributed to continued gross losses in the group's automobile business amid weak domestic consumer spending, supply-demand imbalance in the passenger vehicle market, and intensified industry competition.

The company said its annual results are expected to be released before the end of March.