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February 11, 2015

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Anxin’s net profit surges 3.6 times in 2014

SHANGHAI-BASED Anxin Trust Co yesterday said its net profit jumped 3.6 times in 2014, posting its biggest annual gain since it was formed in 1987.

Its net profit surged 266.1 percent year on year to 1.02 billion yuan (US$163 million) last year while revenue soared 116 percent to 1.81 billion yuan, according to the company’s annual report.

Earnings per share were 2.25 yuan, and the company plans to issue a cash dividend of 7 yuan per 10 shares to shareholders.

The company targets an annual net profit of 1.2 billion yuan in 2015. Its 2013 net profit jumped 159.6 percent to 280 million yuan.

“The rapid growth of Anxin’s net profit is sustainable and will be mainly reflected in 2015,” He Guowen, analyst at Sinolink Securities Co, said in a report. “Anxin’s trust assets might increase up to more than 50 billion yuan from now by then.”

Anxin holds 294 trust products with total assets of 15.12 billion yuan, the report said.




 

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