China CITIC Financial Asset Management (HKG:2799) expects a net profit attributable to the equity holders of about 9 billion yuan to 10 billion yuan for 2024, a year-on-year increase of about 410% to 466%.

The company reported an attributable profit of 1.77 billion yuan in 2023, according to a Thursday filing with the Hong Kong Bourse.

The company attributed the profit growth to core business development, optimization of assets, capital market recovery, among other factors.

The asset management company plans to publish its annual results in April.

The company's shares were up over 3% in the recent trading.