Haitong Securities (SHA:600837, HKG:6837) forecasts it will swing to an attributable loss of about 3.40 billion yuan in 2024 from an attributable profit of 1.01 billion yuan in 2023, according to a Friday filing with the Hong Kong exchange.

The downbeat forecast is attributable to a decline in the valuation of its overseas financial assets, as well as a fall in investment income and equity financing scale in the domestic market, the filing said.

Revenue from its investment banking business also decreased during the period.

Shares fell 2% in Shanghai during Monday's trading.