Jingwei weighs in with more machinery woes
15/08/2008
Jingwei Textile Machinery has become the latest manufacturer in the sector to warn about business performance.
It issued a profit warning saying it estimates it will record a fall in profits of more than 50%for the nine months ending in September, attributable to the appreciation of the yuan and declining demand in the Chinese textile industry.
The textile machinery manufacturer said it was forecasting net profit for the first nine months of $4.5 million.
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