BEIJING (Dow Jones)--China Merchants Group's net profit this year will likely be around last year's level, Chairman Qin Xiao said Thursday.
Qin made the comment on the sidelines of the opening session of the National People's Congress.
China Merchants Group, which owns China Merchants Bank Co. (3968.HK), said earlier its net profit last year fell 23% to CNY8.45 billion.
It said its pretax profit last year slid 29% to CNY13.92 billion, the first decline since 2001, because of a "poor external environment."
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