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China's Jupai Holdings expects higher FY'18 net income

Jupai Holdings Ltd. expects to report a 30% to 40% year-over-year increase in its net income for the 2018 full year.

The company said Sept. 6 that it expects its full-year net income attributable to ordinary shareholders to be in the range of 532.3 million yuan to 573.3 million yuan.

For the six months to June 30, the company reported net income attributable to ordinary shareholders of 203.7 million yuan, compared to 203.2 million in the year-ago period.

Jupai Holdings is a China-based third-party wealth management service provider focusing on high-net-worth individuals in the country.

As of Sept. 5, US$1 was equivalent to 6.83 Chinese yuan.