"Profit Warning" FIRST CAP GP's gross profit increases, forecasts mid-term loss narrowing

FIRST CAP GP (01269.HK) issued a profit warning, expecting a pre-tax loss of between RMB 10 million and RMB 80 million for the six months ending in June, compared to a loss of RMB 247 million in the same period last year. The reduction in loss is mainly due to increased sales and gross profit from the automotive parts business, as well as foreign exchange gains resulting from the appreciation of the RMB