Country Garden (HKG:2007) expects profit ranging from about 1 billion yuan to 2.2 billion yuan for 2025, compared with a loss of about 35.1 billion yuan a year earlier, according to a Monday Hong Kong bourse filing.

Shares of the property developer were up over 3% in Tuesday's late morning trade.

The turnaround was mainly driven by a non-cash gain from the completion of the group's debt restructuring.

The company expects to publish its annual results in late March.