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Kai Yuan forecasts 80% YOY dip for FY'17 attributable loss

Kai Yuan Holdings Ltd. said its loss attributable to shareholders for the year ended Dec. 31, 2017, will be reduced by approximately 80% compared with the figure recorded in the year-ago period.

The Hong Kong-listed company attributed the forecast to the absence of impairment loss on assets during the reporting year and on the reduction of finance cost in 2017 following the full repayment of a loan from an affiliated company in 2016.

Kai Yuan noted in a filing that the forecast is based on a preliminary assessment of unaudited accounts of the group.