China Economic Net, Beijing, April 10 | Driven by the financial and strategic investment services, Oceanwide Holdings' net profit in the first quarter increased more than twice year-on-year, achieving a "good start" in performance.

According to the Q1 performance increase forecast announcement released by Oceanwide Holdings (000046.SZ) on April 10, the Company's net profit attributable to shareholders of the listed company was approximately RMB 1.39-1.59 billion, an increase of approximately 220%-266% year on year. "On the one hand, the Company's financial business has accelerated transformation and innovation, and its operating results have achieved steady growth. On the other hand, the non-recurring gains and losses arising from the Company's strategic investment business have increased substantially compared with the same period of last year," said the announcement.

Obviously, Oceanwide Holdings' financial business has continued the good momentum of development in 2017. 2017 was the last year of "laying a solid foundation in three years" for the transformation and development of Oceanwide Holdings, when the results of the financial subsidiaries including Minsheng Securities, Minsheng Trust, and Asia-Pacific Property & Casualty Insurance significantly improved. Minsheng Trust realized operating revenue of RMB 3.308 billion in 2017, a year-on-year increase of approximately 70%; and its net profit amounted to RMB 1.816 billion, a year-on-year increase of approximately 90%. In terms of strategic investment, Oceanwide Holdings successfully laid out a number of high-quality investment targets. The value of investment equity increased significantly, and some projects were profitably withdrawn in due course.

Oceanwide Holdings also announced its 2017 performance report. Due to real estate control, the Company's real estate revenue declined, leading to a drop of approximately 7% in the Company's overall net profit.

In 2015, Oceanwide Holdings started to carry out comprehensive strategic transformation. By mid-2017, its financial business' revenue exceeded that of the traditional real estate business for the first time. Under circumstances where the current real estate market environment is still uncertain, Oceanwide Holdings apparently has gained more performance support points.