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Hong Kong-based P2P lender expects decline in FY'17 profit

Hong Kong-based peer-to-peer lender Pacific Plywood Holdings Ltd. expects to report "a substantial" year-over-year decline in consolidated net profit for 2017.

The company said Jan. 11 that the expected decline in net profit is mainly due to a decline in revenue contributed by the business segment of operation of peer-to-peer financing platform and other loan facilitation services of the company during the year.