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%
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