Chinese upholstered furniture, furniture leather and automotive leather manufacturer Kasen International Holdings Limited has issued a profit warning for the financial year ended December 31, 2007, as a result of a “number of adverse factors” including weaker demand from customers due to the downturn in the US housing market, the appreciation of the Chinese currency against the US dollar, the rising price of chemicals, foam, timber and labour, and a reduction in export tax rebates.

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