Shenzhou International Group Holdings (HKG:2313) expects a decline of between 38% to 43% in attributable profit for the six months ended June 30 from 3.18 billion yuan a year prior.
The clothing manufacturer attributed the forecast to higher raw material and labor costs, a significant appreciation of the Renminbi against the US dollar, and a lower sales volume amid weak demand, according to a Friday Hong Kong bourse filing.
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