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Analysis

Yihe exaggerated revenue by $400m, claims report on excess, mismanagement at Walmart supplier

Walmart frozen seafood supplier Yihe’s audited 2012 financial statements show revenues were about $98m, when the company had stated they were $400m

By Tom Seaman | Nov. 21, 2013 12:18 GMT
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Yihe Corporation, the US-based frozen seafood supplier that loudly claimed sales revenue of $500 million, actually reported turnover of $98m in 2012, according to its accounts [...]

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