Mobvoi (HKG:2438) expects to report a 99% reduction in loss for the six months ended June 30 from a loss of 578.8 million yuan a year earlier, it said in a Monday Hong Kong bourse filing.

Shares of the tech firm gained over 2% in Tuesday's late-morning trade.

Adjusted net loss is forecast to shrink over 96% from 55.9 million yuan, nearing breakeven, mainly due to changes in the carrying amount of preferred and ordinary shares, as well as improved operational efficiency from AI integration and cost controls.