BRIEF-AVIC Heavy Machinery returns to profit in 2016, elects chairman

March 14 (Reuters) - Avic Heavy Machinery Co Ltd

* Says it returns to net profit of 242.5 million yuan

($35.08 million)in 2016 versus net loss of 300.1 million yuan

year ago

* Says board elects Li Xueqin as chairman

Source text in Chinese:http://bit.ly/2mI0Hk1;

http://bit.ly/2mmWVdz

Further company coverage:

($1 = 6.9125 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)