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GOME shares fall 17 percent to record low after loss warning
July 25, 2012 / 1:53 AM / 5 years ago

GOME shares fall 17 percent to record low after loss warning

<p>A sales assistant switches channels on a TV at a GOME Electrical appliance shop in Wuhan, Hubei province June 27, 2012.Stringer</p>

HONG KONG (Reuters) - Shares in GOME Electrical Appliances Holding Ltd (0493.HK) tumbled more than 17 percent to a record low after it warned it would post a net loss for the first half of 2012.

Shares in China's top home appliances retailer fell to HK$0.63, compared with a 0.8 percent decline in the benchmark Hang Seng Index .HSI.

GOME, which competes with Suning Appliance Co Ltd (002024.SZ), said on Tuesday it expected to post a net loss for the first half due to a drop in sales revenue and losses attributable to its e-commerce business.

Reporting by Donny Kwok; Editing by Edwina Gibbs

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