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Some Chinese listed companies slash earnings estimates due to goodwill write-offs

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Some Chinese listed companies reported huge losses and slashed earnings estimates for 2019, due to large-size write-offs of assets, in particular the goodwill amassed in their mergers and acquisitions.

As of January 14th, 129 A-share companies had announced unaudited net losses for 2019 and 93 said 2019 earnings are expected to decline, according to data from Wind Information, a financial data provider. Another 97 companies warned about uncertainties in last year's profits.

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