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Zoomlion shares fall despite denial
By Richard Fu |
May 30, 2013, Thursday
|
Print Edition
Print Edition
SHARES of Zoomlion Heavy Industry Science and Technology Co fell after they resumed trading yesterday despite the company denying allegations it manipulated sales.
Zoomlion dropped 5.43 percent to HK$7.49 (97 US cents) in Hong Kong, a 20-month low, and shed 2.47 percent to 7.11 yuan (US$1.16) in Shenzhen.
A Chinese newspaper had said Zoomlion falsified data by counting uncompleted orders as sales in central China.
In a late Tuesday statement, Zoomlion said the latest media allegations are "false, groundless and misleading."
Zoomlion dropped 5.43 percent to HK$7.49 (97 US cents) in Hong Kong, a 20-month low, and shed 2.47 percent to 7.11 yuan (US$1.16) in Shenzhen.
A Chinese newspaper had said Zoomlion falsified data by counting uncompleted orders as sales in central China.
In a late Tuesday statement, Zoomlion said the latest media allegations are "false, groundless and misleading."
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