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Dongguan Winnerway forecasts up to 156% YOY net profit jump in year to Q3

DongGuan Winnerway Industrial Zone Ltd. is predicting a year-over-year climb of 109.76% to 155.91% in their net profit for the year to Sept. 30, forecasting the amount to land between 50.0 million yuan and 61.0 million yuan.

The company recorded 23.8 million yuan in net profit from the first to third quarters of 2016.

DongGuan Winnerway said the expected increase in net profit was due to higher yields from its property development projects in 2017, according to a filing.

Meanwhile, net profit attributable to the company's shareholders is anticipated to decline 430.72% to 245.39% year over year. The company also expects its earnings per share for the same period to sit within the range of 8.03 fen to 9.80 fen.

As of Oct. 10, US$1 was equivalent to 6.59 yuan.