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Dongguang Chemical Ltd. ( (HK:1702) ) just unveiled an update.
Dongguang Chemical Ltd. announced that its subsidiary, Hebei Dongguang, has received a formal decision from the Tax Bureau, adjusting its additional tax liability to approximately RMB58 million. This includes a shortfall in environmental protection tax and additional enterprise income tax (EIT) from previous years. The company plans to seek an administrative review of certain components of the tax decision, specifically regarding the environmental protection tax and additional EIT for 2017. To proceed with the administrative review, Hebei Dongguang will secure payment by charging a piece of land and premises in Hebei, which is not expected to adversely impact the group’s operations.
More about Dongguang Chemical Ltd.
Dongguang Chemical Ltd. is a company incorporated in the Cayman Islands with limited liability and is listed on the Hong Kong Stock Exchange. The company operates in the chemical industry, focusing on the production and distribution of various chemical products. It has a market focus in the People’s Republic of China.
YTD Price Performance: 0.51%
Average Trading Volume: 23,500
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$1.24B
Learn more about 1702 stock on TipRanks’ Stock Analysis page.