UPDATE 1-Shanghai Ind 2002 net falls on chip start-up loss

Newswire

(Add details, analysts comments) HONG KONG, April 22 (Reuters) - Shanghai Industrial Holdings said on Tuesday its 2002 net profit fell 6.3 percent, disappointing analysts, due to a loss from the start up of a microchip affiliate and lower profits at its auto unit. The blue-chip conglomerate controlled by the Shanghai government faces uncertainty this year over the compensation it will receive after the Chinese government announced in November the end of fixed-return projects in the ...

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