Homeland Interactive Technology (HKG:3798) expects a net loss of between 75 million yuan and 85 million yuan for 2024, compared with a profit of 440 million yuan a year prior, a Thursday filing with the Hong Kong bourse said.

Revenue for the year is also likely to fall by 22% to 1.38 billion yuan from 1.78 billion yuan in the year-ago period.

The mobile card and board games developer attributed the anticipated swing to loss mainly to a lower revenue from certain games, higher costs of distribution channels and joint operating costs, a boost in marketing efforts, and bad debts and losses by associates.

Shares of the firm were down over 7% in recent trade.