"You don’t drop incendiary reports like that in the middle of a trading day unless you are trying to damage the market for profit," said WiseTech chief executive Richard White.Credit:Peter Braig
The stock dropped more than 10 per cent to a low of $25.85 before recovering to close at $26.65.
The stock,which has been valued at more than 20 times its expected revenue for the current financial year,has lost $4 billion of market value since hitting a record high in September.
Mr White,chairman Andrew Harrison and auditor Chris Hollis defended the company's accounts as WiseTech's lofty valuation took a billion-dollar knock within hours of the attack.
Beijing-based J Capital accused WiseTech of $66 million of"fake costs"and queried the abrupt departures of director Christine Holman and the company's legal chief,Katharine Lowe.
“We’ve not had the opportunity to see those or study them,"Mr Harrison told shareholders when asked during the meeting about the latest report from J Capital.
"If there have been additional allegations raised by them we will be addressing those as soon as we possibly can,” he said.