BRIEF-Guoxuan High-tech sees Q1 profit fall after rise in 2016, scraps private placement

March 17 (Reuters) - Guoxuan High-tech Co Ltd

* Says 2016 net profit up 76.4 percent y/y at 1.0 billion

yuan ($144.89 million)

* Says it expects Q1 net profit to fall 28.2-41.2 percent

y/y to 180-220 million yuan

* Says it scraps share private placement due to changes in

regulation policy, capital market conditions and company


Source text in Chinese:;;

Further company coverage:

($1 = 6.9020 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)