Third of listed centrally owned SOEs predict losses in 2015

China Southern Airlines and Changan Automobile Co Ltd have also forecast solid profit gains.

Mi Pengqi, an analyst at 315.com, a bulk commodity transaction platform, predicts large-scale mergers in the SOE coal, iron and steel sectors this year.

"The slowing economy has resulted in wide production overcapacity in these three sectors," he said.

"The SOEs have all been hit particularly hard by the changing circumstances. Supply-side reform will be key in the country's 13th Five-Year Plan (2016-20). The oversupply issues among SOEs can only be addressed through reform."