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AVIC expects deeper YOY net loss for year to Sept. 30

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AVIC expects deeper YOY net loss for year to Sept. 30

AVIC Real Estate Holding Co. Ltd. forecasts its net loss spanning from the first to third quarters will sit within the range of 65 million yuan to 78 million yuan, registering a bigger loss from the 26.2 million yuan net loss the company recorded in the year-ago period.

According to a release, AVIC said general operating costs and expenses from its property sales have climbed in 2017, resulting in the figures it expects to see for the three quarters ending Sept. 30.

Meanwhile, the company also expects net profit attributable to shareholders to weigh in at 61 million yuan to 75 million yuan for the third quarter, up from the 29.6 million yuan net loss attributable to shareholders it logged in the same period in 2016.

As of Oct. 16, US$1 was equivalent to 6.59 yuan.