HONG KONG, Aug 7 (Reuters) - Short sellers are increasingly targeting Hong Kong-listed Chinese companies. Here are details of eight public campaigns by short sellers against Hong Kong-listed companies in the first six months of this year, based on data from Activist Insight: (Note: The short sellers may have taken positions well before making a public announcement)
TARGET SHORT-SELLER DATE ACCUSATION COMPANY DEFENCE SHARE
China Emerson Feb- Questioned Allegations are Dropped
Hongqiao Analytics 28 whether profits biased, from day
inflated. Says materially seller's report costs appear misleading, until March, when artificially low untrue and shares were and said it was unfounded. halted.
subsidized by connected parties.
Fullshare Glaucus Apr- Stock Allegations are Has
25 manipulation misleading and pct since. alleged. groundless. Fullshare GeoInvesting May- Accounting Company didn't Has
gained 25 pct
03 questioned. responded to since.
GeoInvesting's claims or Reuters request for comment on the allegations.
Cogobuy Blazing May- Revenue and net Allegations are Has
Research 22 profit levels biased, pct.
challenged. Also selective,
questions about inaccurate, online platform incomplete, IngDan. false and
misleading and have been made with the intention to alarm shareholders.
AAC Gotham May- Questioned Vigorously Has
Technologies Research 11 accounting. denies the pct. Suggested allegations, profits information overstated. contained is
inaccurate and misleading.
Dali Foods GeoInvesting Jun- Questioned Allegations were Has
gained 2 pct 07 capital spending made without due
and operation consideration of
costs. Suggested the underlying
there were tax facts and based
inconsistencies. on selective and biased information, and are considered to be inappropriate and misleading.
Man Wah Muddy Waters Jun- Claimed to have Accusations Shares
07 found tax about financial unchanged.
undisclosed are groundless debt, outsized and false. Man profit margins. Wah has no
undisclosed debt and stands by its 2017 annual report.
China Blazing Jun- Questioned size Company did not Shares
Household Research 22 of revenue and respond to before
net income Blazing Research started the day reported. Cited allegations or the report came material Reuters request out. Hong Kong discrepancy for comment on securities between the allegations. regulator has financial since ordered figures indefinite halt.
disclosed and its tax filings.
(Reporting by Elzio Barreto; Editing by Martin Howell)