(Yicai Global) July 31 -- Chinese port warehouse logistic management firm, Zhangjiagang Freetrade Science & Technology Co. [SHA:600794], suffered a net loss of around USD12.8 million (CNY87 million) in the first half after unsuccessful equity investment and a lawsuit, the company said in its semi-annual earnings forecast on Friday.

The firm, based in China's eastern Jiangsu province, accrued USD2.5 million (CNY17 million) in the last six months to cover potential debts related to a civil lawsuit filed against one of its subsidiaries. ZFST has appealed the case.

A comparison between the latest forecasts and the first quarter earnings data suggests a further increase in equity investment losses in the second quarter.

The company disclosed a loss of USD3.3 million in the total fair value of stocks held by two of its subsidiaries for the first three months of this year.

The Chinese A-share market stayed relatively stable in the first half, while the benchmark Shanghai stock index rose 2.8 percent during the period.