Stock Track | CHUANGXIN IND Plummets 5.72% Intraday on Subsidiary Tax Payment Concerns

Stock Track05-28

CHUANGXIN IND's stock price plummeted 5.72% during intraday trading on Thursday, extending recent losses.

The sharp decline is attributed to ongoing market anxiety over a significant tax payment issue at its subsidiary, Inner Mongolia Chuangyuan Metal Co., Ltd. The company is undergoing tax guidance related to its high-tech enterprise tax preferential policy, with the board estimating a payable tax amount of approximately RMB 400 million to 500 million.

This substantial potential cash outflow has weighed heavily on investor sentiment, triggering consecutive declines. The company has stated that its cash position remains ample and that the payment is not expected to have a material adverse impact on its overall financial position.

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