July 4, 2012

China Yurun Food Group rejects meat contamination charges

China Yurun Food Group Ltd has denied allegations of accounting irregularities and contaminated products and stated that these were all "groundless".

Yurun shares rose as much as 5.1% in Hong Kong trading on Friday (June 29) after saying it has procedures to ensure that "assets are safeguarded, operational controls are in place, risks are properly managed".

Yurun hasn't found any food safety concerns related to its products, it said in a statement to the Hong Kong Stock Exchange.

The meat company fell 13% to HKD6.51 (US$0.84) in Hong Kong trading on Thursday, the lowest since October 2006.