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China's Yintech Investment Holdings issues Q1 revenue forecast

China-based Yintech Investment Holdings Ltd. issued its forecast for revenues in the 2019 first quarter as it reported results for the fourth quarter and full year of 2018.

The company said March 18 that it expects first-quarter revenues from commissions, interest income and other revenues in the range of 220 million yuan to 240 million yuan. Further, revenues from trading gains in the quarter are expected to be in the range of 110 million yuan to 130 million yuan.

For the fourth quarter and full year 2018, Yintech Investment Holdings reported net losses attributable to the company of 742.1 million yuan and 877.4 million yuan, respectively. Revenues for the fourth quarter and full year amounted to 286.5 million yuan and 1.09 billion yuan, respectively.

Yintech Investment Holdings provides investment and trading services to individual customers in China.

As of March 18, US$1 was equivalent to 6.71 Chinese yuan.