Damai Entertainment (HKG:1060) expects net profit attributable to owners for the year ended March 31 to be no less than 700 million yuan, compared with about 364 million yuan a year earlier, according to a May 8 Hong Kong bourse filing.

Shares of the motion picture company were down nearly 3% in Monday morning trade.

The company said the expected increase was mainly due to a strengthened asset structure and lower risk exposure in its investment portfolio, which led to a year-on-year decline in investment losses.

Damai Entertainment expects to publish its annual results in late May.