Source:
https://scmp.com/business/companies/article/2076710/china-hongqiao-fights-short-seller-emersons-allegations-profitCompanies
China Hongqiao fights short-seller Emerson’s allegations of ‘profit inflation’
The world’s biggest aluminium smelter is forced to defend itself for the second time in three months
Photo: Reuters
Shares of China Hongqiao, the world’s largest aluminium smelter, slumped as much as 6.9 per cent after it issued a statement denying allegations made by short-seller Emerson Analytics that it has inflated its profit.
“The directors of the company are of the view that the allegations and information contained in the allegation report are biasedly-selected, materially misleading, untrue and unfounded,” Hongqiao said in a filing to Hong Kong’s bourse late on Monday.