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Beijing Vantone expects up to 250% YOY spike in FY'17 net profit

For the year to Dec. 31, 2017, Beijing Vantone Real Estate Co. Ltd. anticipates a 200% to 250% year-over-year jump in its net profit attributable to shareholders from 110.3 million Chinese yuan.

The company said the expected climb is attributable to an increase in earnings from the settlement of its real estate developments, compared to the year-ago period.

Additionally, Beijing Vantone's acquisition of a Chinese investment company within the 2017 financial year will also contribute to the firmer profit levels, the company said.

As of Jan. 31, US$1 was equivalent to 6.29 Chinese yuan.