another chinese appliance retailer warns of profit drop - electrical appliance suppliers
Huiyin household appliances, a medium-sized-
The larger Chinese appliance retail chain also joined the ranks of similar businesses on Friday, warning about its profit prospects.
In a statement after the end of the Hong Kong stock exchange, the company said that the first half of the net profit "is expected to be significantly lower than the same period in 2011 ".
The decline "is mainly due to macro policy and the increasing cost pressure of the Chinese home appliance industry, which may be adversely affected by the provisions made by the group (if any), after the payment to the supplier (sic)
In the first half of 2012, the upstream industry increased operational pressure.
Huiyin's brands include Siemens, Gree, sharp, Haier and Samsung.
Stocks in JiangsuProvince-
Over the past year, Hong Kong-based companies have lost 70% of their value on the Hong Kong stock exchange.
Gome Electrical, the bank's larger rival, is controlled by China's billionaire Wong Kwong Yu. The company said net profit could fall 88% in the first quarter, after(
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Its share price has fallen 60% in the past year.
Huang Guangyu, who served his sentence for financial crimes, ranked first.
Forbes ranked 634 in the list of billionaires, with $2 billion in wealth.
Bain Capital owns a 11% stake in Gome.
Gome and Huiyin also worked with Suning Appliance, e-
Business organizations like the United StatesS. -
Dangdang listed, Best Buy local subsidiaries.
Shares of Dangdang have fallen more than 40% in the past year.
To boost economic growth, the government cut key interest rates last week (
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