(Yicai Global) July 14 -- Shares of 360 Security Technology managed to avoid plunging even though the Chinese antivirus software giant warned its investors about the fifth straight quarter of expected losses amid mainland bourses' wave of artificial intelligence optimism.

360 Security [SHA: 601360] closed up 2.5 percent at CNY12.1 (USD1.70), bringing the year-to-date increase to 85 percent. In February, the internet firm revealed its plan to launch a ChatGPT-like large language model, and the product called 360 Zhinao 4.0 was unveiled last month.

Part of the boost today may have come from external factors. AI concept stocks listed on the Chinese mainland surged after regulators yesterday revealed the country's first official guidelines to support the industry of AI-generated content.

In the first half, 360 Security may report a net loss of about CNY230 million (USD32.2 million), a 42 percent improvement from a year ago, the Beijing-based firm wrote in a performance forecast yesterday. Revenue could fall 5 percent to CNY4.6 billion (USD644.5 million).

The projected deficit is mainly caused by poor investments in loss-making companies, per the statement. Beyond that, 360 Security basically broke even. Meanwhile, revenue dropped mostly because the sustained industry downturn harmed the firm's internet advertising and service business.

Editors: Lv Yining, Emmi Laine