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Huarong International Financial expects 60% yearly rise in FY'17 net profit

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Huarong International Financial expects 60% yearly rise in FY'17 net profit

Huarong International Financial Holdings Ltd. expects to report a 60% year-over-year growth in its net profit attributable to owners for the full year ended Dec. 31, 2017.

The company said Jan. 30 that the expected net profit increase was attributed to a rise in operating profit from the asset management and direct investment segment as a result of the expansion of direct investment business.

Huarong International Financial also attributed the expected net profit increase to the growth of interest income from the securities segment, as well as the increase in financial advisory fees and underwriting commission generated by the corporate finance segment.

The company posted a net profit of about HK$550.9 million for the full year ended Dec. 31, 2016.