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A Chinese A-Share Listed Steel Company Made a Mistake in Its Financial Statements, Misrepresenting 66.2 Billion as 6.62 Million.
Summary by 大纪元 Epoch Times
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Hunan Valin Steel, a listed steel company under the Hunan provincial government, mistakenly labeled the unit of a subsidiary's financial statement in its semi-annual report as "yuan" instead of "ten thousand yuan." This resulted in Valin Xianggang's actual total assets of 66.276 billion yuan (RMB) being displayed as only 6.6276 million yuan, and its net profit of 250 million yuan being displayed as only 25,000 yuan. This error was not corrected …
·New York, United States
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