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In a statement filed with the Shanghai Stock Exchange, the company said the notes will be issued in several tranches in the fourth quarter or 2009.
Proceeds will supplement working capital and repay bank loans, the company added, without providing further details.
Late yesterday, the company announced a net profit of 8.3 bln yuan in the third quarter, down 38.7 pct year-on-year, while net profit in the first nine months was down 63.8 pct at 17.6 bln yuan.
(1 usd = 6.85 yuan)
zachary.wei@xfn.com
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