Xinhu Zhongbao Co.,Ltd. Provides Earnings Guidance for the Year 2016
January 23, 2017
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Xinhu Zhongbao Co.,Ltd. provided earnings guidance for the year 2016. If the company changes to adopt the equity method in accounting investment of China CITIC Bank Corporation Limited, adjusts the book value of long-term equity investment and takes into account the net profit increase caused by it, the Company predicts an increase of about between 370% and 420% in the net profit belonging to shareholders of the listed company in 2016 compared with the same period of the year before. If excluding impact of Point 1, the Company expects that its net profit in 2016 will be roughly flat compared with the same period of the year before.
Xinhu Zhongbao Co Ltd is a China-based company principally engaged in the development and sales of real estate. The Company operates its businesses through four segments. The Real Estate segment is principally engaged in the development and sales of real estate. The Commercial Trading segment is mainly engaged in commercial trading business. The Tidal Flat Development segment is mainly engaged in the Tidal Flat Development business. The Other segments are mainly engaged in property management and investment businesses. The Company's real estate projects include residential construction projects, office building projects, and commercial construction projects. The Company's real estate business is distributed in China's Zhejiang Province, Shandong Province, Liaoning Province, Jiangsu Province, Jiangxi Province, Tianjin City and Shanghai City.