Chuanglian Holdings (HKG:2371) expects to record a net loss of at least 70 million yuan for the 18 months ended June 30, 2024, as compared to a net profit of 10.9 million yuan for the 12 months ended Dec. 31, 2022, a Monday filing with the Hong Kong Exchange said.

The online education and training provider attributed the turnaround to loss to a decrease in revenue from online training and education services with higher profit margins, and a decline in profit contribution from the company's finance leasing services business resulting from the disposal of certain subsidiaries in 2022.