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Zhongjin Gold flags 323% YOY jump in FY'16 profit

Zhongjin Gold Corp. Ltd. expected its net profit attributable to shareholders for 2016 to jump 323% from the 86.4 million Chinese yuan, or 3 fen per share, posted in 2015, according to an unaudited earnings guidance released on Jan. 24.

The company's profitability improved on the back of a recovery in the price of gold, increased production and cost controls.

As of Jan. 23, US$1 was equivalent to 6.86 Chinese yuan.