BRIEF-Hangzhou Shunwang Technology sees Q1 profit up, halts private placement plan

March 24 (Reuters) - Hangzhou Shunwang Technology Co Ltd

* Says its 2016 net profit up 82.4 percent y/y at 521

million yuan ($75.68 million)

* Says it sees Q1 net profit up 30-50 percent y/y

* Says it halts 2016 share private placement plan due to

changes in policy and market conditions

Source text in Chinese:;;

Further company coverage:

($1 = 6.8840 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)