Hundreds More Chinese Companies Just Warned on Profits
- This is just the beginning as economy slows, fund manager says
- More warnings are expected later Thursday before deadline
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The number of Chinese companies warning on earnings is turning into a flood, with no industry spared from worsening demand.
Some 440 firms disclosed on Wednesday -- the day before a deadline to do so -- that their 2018 financial results deteriorated, according to data compiled by Bloomberg. Of the more than 2,400 mainland-listed firms that have announced preliminary numbers or issued guidance this season, some 373 said they’ll post a loss, the data show. About 86 percent of those were profitable in 2017.