Zhongshen Jianye Holding (HKG:2503) expects to record an attributable loss of about 12.0 million yuan for the first half of 2025, compared with a profit of around 335,000 yuan a year earlier, according to a Thursday Hong Kong bourse filing.

Shares of the construction contract firm gained nearly 4% in Friday morning trade.

The turnaround was mainly attributed to lower revenue from a reduced number of construction projects and impairment losses on trade and other receivables and contract assets, compared with a reversal of impairment losses in the prior-year period.