NEW YORK, NY - Yangtze River Port and Logistics Limited (Nasdaq: YRIV) (the “Company”), an international infrastructure company that engages in the business of real estate development via a port logistic project located in the middle reaches of China’s Yangtze River in Wuhan, China, today categorically refutes all the allegations made against the Company in Hindenburg Research’s report dated December 6, 2018 (the “Report”).
“The Report contains numerous errors of facts and misleading speculations that are libelous and we categorically deny such speculations. This Report is largely a rehash of prior allegations made against us around August 2018, which have since been proven to be false and misleading. We have not granted access to Hindenburg Research nor has Hindenberg Research ever contacted us to seek any clarification or explanation to the allegations made. These speculations have caused significant damage to our Company and we are resolved to take such actions necessary to defend ourselves and protect the interests of our shareholders. Additionally, we have instructed counsel and are working with the Nasdaq to explore our recourse against Hindenburg Research for making such irresponsible, baseless and libelous statements, including but not limited to instituting legal proceedings against them. We are committed to a high level of corporate governance and stand by the integrity of our financial statements and business operations,” said Mr. Xiangyao Liu, Chairman and Chief Executive Officer of the Company.
