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China Commercial Credit forecasts US$59M net loss for FY'15

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China Commercial Credit forecasts US$59M net loss for FY'15

ChinaCommercial Credit Inc. said in a nontimely Form 10-K filed March 30that it expects to post a net loss before taxes of around US$59 million for2015.

The company forecasts a net loss due to the lack of any new loansand significant write-offs of existing loans in 2015. In 2014,China Commercial Credit reported a net loss of around US$27 million.