Activist Stands by Financial Allegations That the Chemicals Company Disputes

HONG KONG—A week after "hacktivist" group Anonymous Analytics questioned the earnings and revenue of Chinese lubricants maker Tianhe Chemicals Group, both sides are digging in for what could be a protracted dispute.

Last Tuesday in Hong Kong, Anonymous Analytics released a report alleging that the recently listed Chinese company falsified its accounting, revenue and margins, and overstated sales of a lucrative chemical agent called anti-mar. The group broadcast the claims on its website and the social-media site...