UPDATE 2-Shanghai Ind profit falls, chip unit posts loss

Newswire

(Add executives, analysts comments) By Wendy Lim HONG KONG, April 22 (Reuters) - Shanghai Industrial Holdings said on Tuesday that its 2002 net profit fell 6.3 percent, below forecasts, due to a larger-than-expected loss from its microchip affiliate and lower profits at its auto unit. The blue-chip conglomerate controlled by the Shanghai government made its report as it sought to ease investor concerns that its profits could fall further after the Chinese government ended a policy of ...

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