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Xiwang Property expects to record net loss for FY'17

Xiwang Property Holdings Co. Ltd. expects to record a consolidated net loss of about 5 million Chinese yuan to 10 million yuan for the year ended Dec. 31, 2017, based on its preliminary review of its accounts.

The company is attributing the loss to a one-off cost incurred from a property project in 2017.

As of Feb. 22, US$1 was equivalent to 6.35 Chinese yuan.