Bosideng Says Bonitas' Short Selling Report Is Misleading After Stock Drops Most Since IPO
Dou Shicong
DATE:  Jun 24 2019
/ SOURCE:  yicai
Bosideng Says Bonitas' Short Selling Report Is Misleading After Stock Drops Most Since IPO Bosideng Says Bonitas' Short Selling Report Is Misleading After Stock Drops Most Since IPO

(Yicai Global) June 24 -- Bosideng International said a report by Bonitas Research was misleading after the short seller questioned the Chinese down jacket maker's profits. The report prompted the biggest one-day decline in Bosideng's shares since it went public more than a decade ago.

The Suzhou-based company said it plans to issue a statement to clarify how the report was deceptive. Published yesterday, the report accuses Bosideng of fabricating CNY807 million (USD117.4 million) in profits since 2015. 

Shares in Bosideng [HKG:3998] plunged almost 25 percent to HKD1.73 (22 US cents) in the morning before the company suspended trading. It was the biggest single-day slide in the stock price since the firm listed in 2007. 

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Keywords:   Bosideng,Short,Bonitas