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Sun Art Retail Group ( (HK:6808) ) has provided an update.
Sun Art Retail Group Limited has announced that an independent supplier is under investigation for issues related to value-added tax invoices provided to certain subsidiaries of the company. While the Group itself is not the subject of the investigation, it may face financial implications if the supplier’s invoices are nullified, potentially leading to additional tax payments and surcharges. The company has preliminarily estimated a provision of RMB58 million for tax expenses in its financial statements for the year ending March 31, 2025, though this figure is subject to change.
More about Sun Art Retail Group
Sun Art Retail Group Limited is a prominent player in the retail industry, primarily engaged in operating hypermarkets and supermarkets in China. The company focuses on providing a wide range of consumer goods and services to meet the diverse needs of its customers.
YTD Price Performance: -29.69%
Average Trading Volume: 6,600
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.11B
See more data about 6808 stock on TipRanks’ Stock Analysis page.