Yunfeng Financial Group (HKG:0376) said its net profit attributable to shareholders for the first half is expected to reach about HK$480 million, up around 139% from HK$201 million a year earlier, according to a Monday Hong Kong bourse filing.

Shares of the insurance firm were up over 9% in Tuesday's late-morning trade.

The board attributed the expected increase mainly to stronger operating profit from the company's insurance business, as well as positive impacts from fair value adjustments on investments and currency exchange rates.