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Jiangsu Phoenix forecasts net loss of up to 234M yuan for FY'17

Jiangsu Phoenix Property Investment Co. Ltd. expects net loss attributable to shareholders sitting within the range of 156.0 million yuan to 234.0 million yuan for the 2017 financial year.

The forecast tracks the company's 52.4 million-yuan net profit logged for the year to Dec. 31, 2016. For the same period, the company recorded earnings per share of 5.7 fen.

The anticipated net loss for the year to Dec. 31 comes on the back of governmental policies over the property market, Jiangsu Phoenix said in a release.

As of Jan. 31, US$1 was equivalent to 6.29 yuan.