BRIEF-Xinyu Iron & Steel's 2016 profit up, sees Q1 to return to black

April 17 (Reuters) - Xinyu Iron & Steel Co Ltd

* Says 2016 net profit up 730.5 percent y/y at 502.9 million

yuan ($73.06 million)

* Says it expects to return to net profit of 265-285 million

yuan in Q1 versus net loss of 91.8 million yuan year ago

* Says it plans to invest 1.0 billion yuan in steel

processing project

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($1 = 6.8835 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)