Sinopharm Group Co. Ltd. (1099.HK) late Wednesday said allegations from GMT Research that questioned the firm's cash flow are inaccurate.
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."
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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)