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Forensic Analyst

Jason Yap, CFA

Forensic Accounting

Kangmei Pharmaceutical Co Ltd / Forensic Accounting

Kangmei Pharmaceutical Co Ltd (600518 CH)

<ul>
<li>Kangmei Pharmaceutical is a large drugmaker listed on the Shanghai Stock Exchange and was embroiled in a USD4 billion accounting fraud in 2019</li>
<li>On 12 November 2021, the Guangzhou court made a landmark ruling on Class Action Lawsuit against Kangmei Pharmaceutical </li>
<li>This increases the costs of fraud (including potential criminal charges) for delinquent issuers and should reduce fraud occurrences and boost investor confidence in China's capital markets  </li>
</ul>


Kangmei Pharmaceutical is a large drugmaker listed on the Shanghai Stock Exchange and was embroiled in a USD4 billion accounting fraud in 2019
On 12 November 2021, the Guangzhou court made a landmark ruling on Class Action Lawsuit against Kangmei Pharmaceutical 
This increases the costs of fraud (including potential criminal charges) for delinquent issuers and should reduce fraud occurrences and boost investor confidence in China's capital markets  


Kangmei Pharmaceutical (600518 CH) - First Class Action Lawsuit in China and Its Implications