HONG KONG – Sinopharm Group Co. Ltd. (1099.HK) late Wednesday said allegations from GMT Research that questioned the firm's cash flow are inaccurate.
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This came after Hong Kong-based GMT issued another negative report on the Chinese drug distributor, contending that Sinopharm "has misrepresented [its] cash flow statement and aggressively window-dressed its balance sheet."
The Chinese drug distributor said the report's conclusions were made based on hypothetical conditions about its accounting transactions. It said it reserves its right to take legal action.
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(END) Dow Jones Newswires
September 27, 2017 21:47 ET (01:47 GMT)