Shanghai MicroPort Endovascular MedTech (SHA:688016) estimated back taxes of between 60 million yuan and 70 million yuan following the medical device manufacturer's disqualification from the high-tech enterprise.
The back taxes are expected to account for more than 10% of the company's fiscal 2023 net profit, according to a Tuesday filing with the Shanghai bourse.
Shares of Shanghai MicroPort Endovascular MedTech closed 3% Tuesday.
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