April 14, 2017 / 1:46 PM / in 3 months

BRIEF-Ningbo Joyson Electronic sees Q1 profit up, plans sale of Europe asset

1 Min Read

April 14 (Reuters) - Ningbo Joyson Electronic Corp

* Says 2016 net profit up 13.5 percent y/y at 453.7 million yuan ($65.90 million)

* Says it expects Q1 net profit to rise 70-80 percent y/y from 120.7 million yuan year ago

* Says it plans to invest 200 million yuan to set up property insurance JV with registered capital at 1.0 billion yuan

* Says it plans to sell Preh Ima Automation GmbH for at least 130 million euros ($138.13 million) to Pia Automation Holding GmbH

Source text in Chinese: bit.ly/2oyd3fI; bit.ly/2oyi1ZI; bit.ly/2p37Pd4; bit.ly/2of40gg

Further company coverage: ($1 = 6.8850 Chinese yuan renminbi) ($1 = 0.9412 euros) (Reporting by Hong Kong newsroom)

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