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An announcement from Mega Genomics Limited ( (HK:6667) ) is now available.
Mega Genomics Limited has announced the key findings of an independent forensic investigation conducted by Grant Thornton Advisory Services Limited. The investigation was initiated following resumption guidance from the Hong Kong Stock Exchange due to audit issues related to revenue recognition from genetic testing kits, which are the company’s primary revenue source. The investigation focused on the reasonableness of revenue recognition for genetic kits that were either delivered but not used or not yet delivered. The findings and recommendations have been reviewed by the company’s Investigation Committee and Board, and are subject to the Stock Exchange’s review to fulfill resumption requirements.
More about Mega Genomics Limited
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.61B
Find detailed analytics on 6667 stock on TipRanks’ Stock Analysis page.