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SunCity expects to record profit in 2017

SunCity Group is expecting to swing to a profit for the year ended Dec. 31, 2017, compared to a loss recorded in the prior year.

According to a filing from the company, the profit derived during the year is attributable to the reversal of provision for litigation of RMB 289 million (US$45.8 million) and reversal of impairment loss of RMB 438 million.

The group’s annual results for the year will be announced near the end of the month.

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