Inner Mongolia Baotou Steel Union (SHA:600010) expected its 2024 profit to be impacted by about 80.7 million yuan due to tax payments owed by subsidiary Rare Earth Steel Plate.
Rare Earth Steel Plate needs to pay 111.1 million yuan in property taxes and late fees covering the period between December 2018 and June 2024, according to an Oct. 25 filing with the Shanghai bourse.
Inner Mongolia Baotou Steel Union shares rose 4% higher Monday.
Price (RMB): ¥1.74, Change: ¥+0.060, Percent Change: +3.57%
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