Shares of China’s GDHG fell 90% in one day.

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Shares of China’s Golden Heaven Group fell 90% in a single day.

Golden Haven Group manages and operates parks and amusement centers in southern China. In recent days, analysts at American-based Hindenburg Research have accused Golden Heaven Group of misrepresenting the number of visitors to its parks. In addition, the company’s CEO, Jin Qiong, has also been accused of fraud in transactions. China has frozen Jin Qiong’s assets following the allegations.

As per the information so far, Golden Heaven Group operates 6 major parks and amusement centers. After the allegations came to light, the company collapsed and its shares recorded a drop of 90% in one day.

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