CCTV Finance Channel reported in the evening of 17 April the serious environmental violations of Shanxi Sanwei Group Co., Ltd. (hereafter referred to as “*ST SWGC” or the “Company”) such as dumping industrial solid waste and releasing industrial sewage. Such vilations of the Company has seriously damaged the surrounding environment and have bad social impact, attracting considerable attention from the market.
Shenzhen Stock Exchange (“SZSE”) took regulatory measures in time, requiring the Company to disclose the above media report and issue relevant risk warnings. Besides, SZSE also urged it to verify the facts of the cases involved in the report and whether its previous information disclosure is consistent with the cases involved and whether there is violation in disclosing of environmental protection information.
With reference to the media report, SZSE conducted research on the Company’s previous information disclosure. It turned out that the Company had failed to disclose the administrative penalties imposed by environmental protection authorities in its 2016 annual report and 2017 interim report, and there are inconsistencies between the environmental protection information disclosed in the periodic reports and that in the interim reports apart from false statements in that regard. With regard to the Company’s serious violation of relevant regulations of SZSE’s Stock Listing Rules, the exchange has initiated the disciplinary procedure by making public denouncement and took tough actions against the violations in disclosure of environmental protection information.
SZSE attaches much importance to the disclosure of environmental protection information of listed companies, is proactive in establishing a system of rules for disclosure of environmental protection information, and has been urging relevant listed companies on Ministry of Ecology and Environment’s list of major pollution dischargers to fully disclose their pollutant emission.
The disciplinary procedure of public denouncement on *ST SWGC in accordance with laws and regulations fully reflects SZSE’s upholding of the guiding principles of the 19th CPC National Congress, its efforts in pushing forward the construction of a beautiful China and its implementation of comprehensive law-based strict supervision. SZSE shall continue to urge listed companies to properly disclosure environmental protection information, assisting them in winning the tough battle of pollution prevention and control.
