JINGRUI HOLDINGS LTD. estimated that its profit attributable to equity holders will soar roughly 650% in the 2017 full year, compared to the figure logged in the prior 12-month term.
The Hong Kong-listed real estate developer adjusted the forecast from the 450% to 500% increase it predicted earlier Feb. 2.
JINGRUI recognized the "significant" jump in price and gross profit registered for the assets sold in 2017, as well as the fair value gain on the investment properties as main factors leading to the positive profit.
The annual results of the group are slated to be released on or about March 15, according to the company.
