A Kangmei Pharmaceutical booth at a trade and services fair in Beijing. The company has been under investigation since December for breach of disclosure rules. Photo: Reuters
Chinese MSCI constituent firm Kangmei Pharmaceutical faces 600,000 yuan fine for misstating cash position by 29.9bn yuan
- Company used fraudulent bank documents to inflate its cash deposits and falsified business certificates to inflate its income between 2016 and 2018, CSRC says
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China economy
A Kangmei Pharmaceutical booth at a trade and services fair in Beijing. The company has been under investigation since December for breach of disclosure rules. Photo: Reuters