Hua Xia Bank Company Limited (600015) announced that it announced that it expects its net profit for the first quarter of fiscal year (FY) 2011 to be approximately RMB -4million to RMB -5 million, compared to that of the same period in FY 2010 (RMB 7,691,500). The Company cited the increased cost as the main reason for the forecast.

Source:Reuters