-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Markets -> 
Hongqiao seeks to stop negative research reports
    2017-11-07  08:53    Shenzhen Daily

CHINA Hongqiao Group, the world’s largest aluminum producer, is seeking a court order to restrict previously published research reports by a group of analysts that alleged accounting irregularities at the company.

China Hongqiao in March halted trading of its shares, which only resumed Oct. 30, after a report released in February by a group called Emerson Analytics asserted that Hongqiao was understating its costs and exaggerating its profits.

Hongqiao on Friday applied to the High Court of Hong Kong for an injunction to “restrain the publication” of the February report, an Oct. 30 report Emerson published as trading resumed and “further defamatory reports,” according to a statement to the Hong Kong stock exchange Sunday.

An injunction is a court order that forbids actions or orders an action to be taken.

A hearing on the matter is set for Nov. 27, Hongqiao said. A High Court spokesman was unable to confirm the case or the date without a case number, which was not provided in the stock exchange statement.

Hongqiao told the exchange Oct. 30 that it had filed a defamation lawsuit in Hong Kong against Emerson.

After the February report from Emerson, Hongqiao called the allegations “untrue and groundless” but, with its share price tanking, the company asked to suspended trading.

As trading resumed, Emerson Analytics issued a new report alleging inconsistencies in Hongqiao’s clarification statement Oct. 25.

Hongqiao’s shares have surged more than 30 percent since trading restarted, belatedly tracking a rally in aluminum prices in recent months.

Emerson Analytics describes itself as a group of “seasoned equities analysts” who are “determined to expose as much of the fraud in the Chinese stock market as we can.” (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn