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BRIEF-Zhejiang Nhu sees Q1 net profit down 50-70 pct

March 27 (Reuters) - Zhejiang Nhu Co Ltd * Says expects Q1 net profit to fall 50-70 percent y/y at 61-101.8 million yuan ($9.82-16.38 million) Source text in Chinese: http://bit.ly/19p6mBp Further company coverage: ($1 = 6.2145 Chinese yuan renminbi) (Reporting by Hong Kong and Singapore newsrooms)