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China’s Gome issues profit warning for 1Q

Shares of Gome Electrical Appliances on Wednesday fell to their lowest in almost three years after the company issued a profit warning for the first quarter.

The stock dropped 11.43 percent to HKD1.24 (USD0.16), the lowest since June 2009, after the company forecast on Monday "a significant decline in its net profit" for the first quarter.

It attributed the poor performance to lower sales and a loss in its e-commerce business.

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(Source: scmp.com)