China Aoyuan to Swing to H1 Profit

MT Newswires Live08-15

China Aoyuan Group (HKG:3883) expects a net profit of between around 21 billion yuan and 23 billion yuan for the six months ended June 30, as compared to a net loss of 2.9 billion yuan a year prior, a Wednesday bourse filing said.

The property developer attributed the profit mainly to restructuring gains from the completion of its offshore debt restructuring.

Shares of the company closed 26% higher on Thursday.

Price (HKD): $0.16, Change: $+0.03, Percent Change: +26.40%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment