SinaHong Kong Stock News, November 19, reports that Oaks International posted a positive profit yesterday. The mid-term profit forecast increased more than fourfold over the previous year. Spurred by the positive news, stock prices rose sharply in early trading. As of press release,Oaks InternationalIt rose 80% to HK$0.81.

Yesterday, Oaks International issued an announcement. The Group expects the Group to achieve a four-fold increase in profit during the period over the six months ended September 30, 2019 compared to the profit achieved in the six months ended September 30, 2018. The anticipated increase is mainly due to: the increase in earnings of the Group's property management division; the increase in net exchange earnings (in RMB) of the controlling shareholder's loans due to the devaluation of the RMB against the Hong Kong dollar; and the proceeds from the sale of the total issued share capital of Asia Century Limited, an indirect wholly-owned subsidiary of the company, about HK$5 million before the sale was completed and incorporated as a limited company in Hong Kong, China.