China Hongqiao Group appealed to Hong Kong court to restrict previously published research reports

Almaty. November 7. Silkroadnews - China Hongqiao Group appealed to the Hong Kong court to restrict previously published research reports, Euronews channel reported.
“China Hongqiao Group, the world’s largest aluminium producer, is seeking a court order to restrict previously published research reports by a group of analysts that alleged accounting irregularities at the company,” the report said.
In March China Hongqiao suspended trading in its shares following a group called Emerson Analytics released a report in February claiming that China Hongqiao understated its costs and also exaggerated the profits. Trading of the company’s shares only resumed on October 30. On November 3, China Hongqiao appealed to the High Court of Hong Kong with a request to restrain the publication of the February report. The hearing on the issue is scheduled for November 27. Besides, China Hongqiao had filed a defamation lawsuit in Hong Kong against Emerson and called the charges put forward in the February report “untrue and groundless”. After the resumption of trading, Emerson Analytics published a new report alleging inconsistencies in China Hongqiao’s clarification statement.
On its website Emerson Analytics describes itself as a group of “seasoned equites analysts” who are “determined to expose as much of the fraud in the Chinese stock market as we can.” Other Emerson reports have targeted Tian Ge Interactive Holdings, a social video platform in China, and Hua Han Health Industry Holdings, a pharmaceutical firm.