On May 26, Innovative Industrial (02788.HK) declined 5.15% in regular trading, trading at HKD 20.68/share, with trading volume of approximately HKD 65.21 million.

On the news front, the company announced on May 25 that its subsidiary, Inner Mongolia Chuangyuan Metal Co., Ltd., is undergoing tax compliance guidance related to its high-tech enterprise tax incentive policy. The board estimates the total tax payable at approximately RMB 400 million to RMB 500 million, covering the 2025 annual tax settlement and corresponding adjustments to Q1 prepaid taxes. Although the company stated that the group has sufficient cash reserves to handle the payment and does not expect a material adverse impact on its overall financial position, the market appeared concerned about the sizeable one-time cash outflow, pressuring the stock price.

Innovative Industrial Group Limited is primarily engaged in the production and sale of electrolytic aluminum and alumina. Its operations include the Electrolytic Aluminum segment, which produces and sells aluminum ingots and liquid aluminum, and the Alumina segment, which produces and sells alumina and related products.

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