Winsway Coking Coal (Hong Kong stock code 01733) fell 4.71% to HK$1.82 at midday, though it issued an announcement to clarify the report dated 19 January issued by Jonestown Research alleging certain material misstatements and fraud on part of the company, including the basis of calculation of Winsway’s inventory, profit margins, import data, the relationship between Winsway with Moveday and Sanhe and Winsway’s use of import agents. The Board refutes the above allegations. Winsway said it has no information about the identity of Jonestown. Further, the report also states that Jonestown is not registered in any jurisdiction as an investment advisor, broker, or anybody who would need a license to discuss investments. In addition, Jonestown also states in the report that they cannot give any assurance as to the report’s accuracy.