SOURCE: Real Nutriceutical Group Limited

Real Nutriceutical Group Limited

January 26, 2017 09:14 ET

Independent review results reaffirm that Real Nutri's arguments to the short selling institution research report are supported by sufficient evidence

HONG KONG, CHINA--(Marketwired - Jan 26, 2017) - Real Nutriceutical Group Limited (HKSE: 2010)

  • Real Nutri voluntarily engaged Zhonghui Anda Risk Services Limited, a member firm of Zhonghui Anda CPA Limited to conduct an independent review on the allegations set out in the Glaucus Report in order to enhance investors' confidence.

  • The Independent Report reaffirms that Zhonghui did not discover any material discrepancies between Real Nutri's financial records and the information obtained by Zhonghui during the independent review.

  • Glaucus has already entered into the settlement agreement with Real Nutri in April 2016. Real Nutri is entitled to state that its financial statements for the current and prior years are genuine and correct.

  • Real Nutri believes that its arguments to the short selling institution research report are supported by sufficient evidence.

Real Nutriceutical Group Limited ("Real Nutri" or the "Company", which together with its subsidiaries is referred to as the "Group"; HKSE: 2010) announced that the Company voluntarily engaged Zhonghui Anda Risk Services Limited ("Zhonghui"), a member firm of Zhonghui Anda CPA Limited to conduct an independent review, in relation to the research report published by Glaucus Research Group California LLC ("Glaucus") in 2015.

The independent review report has been prepared for more than a half year and the Group's sales, incomes, tax payments, customers, expenses and number of Real Nutri Health Stores etc., in the past few years are under review. Zhonghui was satisfied with the review and did not discover any material discrepancies between the Group's financial records and the information obtained by Zhonghui during the independent review in respect of the allegations made in the Glaucus report. As disclosed in the announcement dated 24 April 2016, the Company has already entered into the settlement agreement with Glaucus. The Company is entitled to state that its financial statements for the current and prior years are genuine and correct, and its arguments to the short selling institution research report are supported by sufficient evidence.

Dr. Wang Fucai, Chairman and Chief Executive Officer of the Group, said, "We welcome the results of the independent review. The report reaffirms the Company's healthy business operation and solid financial position, while our corporate governance and information disclosure levels are complied with the requirements of Hong Kong listed companies' regulations and accounting standards. We hope this report can further enhance our investors' confidence, and we will continue to communicate with the investors in the capital markets. We reiterate our confidence in Real Nutri's business and future development, aiming to establish an influential heath care business and generate positive value to our shareholders."

Contact Information

  • Real Nutriceutical Group Limited
    Tel: (852) 2388 5595