Coolpad Group (HKG:2369) said it expects to post a loss attributable to owners of between HK$76 million and HK$82 million for the six months ended June 30, narrowing from a HK$90.2 million loss a year earlier, according to a Wednesday bourse filing.

Shares of the smartphone manufacturer fell nearly 1% in Thursday late-morning trade.

Revenue and gross profit are projected to fall due to the discontinuation of certain loss-making smartphone products and rental concessions offered to some Shenzhen property tenants.

The smaller loss was mainly attributed to reduced administrative and other expenses, along with higher other income and gains, including fair value changes in investments.

The interim results are expected on or before Aug. 25.