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Wuzhou International forecasts 518M yuan loss for FY'17

Wuzhou International Holdings Ltd. expects to record a roughly 518 million-Chinese-yuan loss attributable to company owners for the year ended Dec. 31, 2017, compared to a profit of about 101 million yuan in 2016.

The real estate developer said the estimated loss was chiefly attributable to a 49.2% year-over-year decrease in gross profit to about 683 million yuan and a 33.8% increase in the group's finance cost to about 814 million yuan.

Wuzhou International expects to release its financial results for the 12-month period ended Dec. 31, 2017, on March 29.

As of March 26, US$1 was equivalent to 6.27 yuan.