China TCM Holdings Faces Significant Tax Liabilities

China Traditional Chinese Medicine Holdings Co (HK:0570) has released an update.

China Traditional Chinese Medicine Holdings Co. announced that certain subsidiaries have incurred remedial taxes totaling approximately RMB153.4 million, of which RMB102.8 million has been paid. This tax liability is expected to reduce the company’s net profit by around RMB129.0 million. The final impact of these taxes will be disclosed in the Group’s interim results by the end of August 2024.

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