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Jiande International to log 'significant' profit boost for FY'17

Real estate developer Jiande International Holdings Ltd. estimates its profit attributable to owners to improve "significantly" for the year ended Dec. 31, 2017, marking a year-over-year turnaround from a loss of about 519.0 million Chinese yuan.

The profit forecast reflects a boost in the Hong Kong-listed company's real estate development business revenue and an absence of deemed listing costs, compared to one-off expenses totaling roughly 542.1 million yuan sustained in 2016.

Results for the 2017 full year are set to be released by March 31.

As of March 13, US$1 was equivalent to 6.32 Chinese yuan.