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Shanghai Wanye Enterprises Expects Up to 464% Surge in H1 Attributable Profit

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Shanghai Wanye Enterprises (SHA:600641) forecasts a 292% to 464% surge in its net attributable profit to between 160 million yuan and 230 million yuan in the first half from 40.8 million yuan in the year-ago period, according to a Wednesday filing with the Shanghai bourse.

The real estate development company attributed the expected rise to positive fair value changes of its non-current financial assets, as well as the recognition of 80 million yuan in share-based payment costs that reduced recurring gains and losses.

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