HONG KONG, July 18 (Reuters) — Shares of Chinese sportswear maker Li Ning Co Ltd tumbled more than 10 percent to a three-month low in early trade on Friday, after it warned of deeper losses in the first half.

The company said late on Thursday it expected one-off charges and the cost of expanding its direct sales network to widen its January-June net loss to at least 550 million yuan ($88.65 million.)

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