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China Green Agriculture Calls Analyst Report ‘Untrue’
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A research report that said fertilizer maker China Green Agriculture Inc. overstated its revenue as the market for its main product collapses is “untrue,” the company said in a letter to its shareholders.
The Xi’an, China-based company that trades on the New York Stock Exchange said J Capital Research’s report this month, titled “Why We’re Short China Green Agriculture,” includes incorrect allegations about inflated sales and improbable earnings. In the letter, which was mailed to shareholders, the company also denied overpaying for a July acquisition.