The camel stock that was temporarily suspended yesterday due to unannounced important issues announced today that it will continue to suspend trading due to verification of certain issues. The Shanghai Securities News reporter learned from a number of investigations that the company had suspended half of its production capacity before its official listing on June 2, but it has not disclosed it in accordance with normal regulatory requirements.
The reporter learned from the Hubei Provincial Department of Environmental Protection that in March this year, the South China Inspection Center of the Ministry of Environmental Protection and the Hubei Provincial Environmental Protection Agency jointly conducted inspections on the Puyang lead-acid storage battery company. On May 12, it issued a report entitled “Investigating and Dealing with Xiangyang City Partâ€. Lead-acid battery company's monitoring notice of environmental violations, and asked the Puyang City Environmental Protection Bureau to give a monitoring reply before May 22.
The monitoring notice disclosed the pollution problems and penalties in thirteen enterprises in Xiangyang City. Three companies in the notice had camel shares, namely Hubei Camel Storage Battery Co., Ltd. (hereinafter referred to as camel stock) and Camel Group Xiangfan. Battery Co., Ltd. (hereinafter referred to as Camel Xiangfan) and Hubei Camel (Strait) New Battery Co., Ltd. (hereinafter referred to as Camel Strait).
According to the supervision notice issued by the environmental protection department, the Camel shares pollution control facilities are not perfect, the sanitary protection distance has not been implemented, production and renovation have been ordered, environmental protection and emergency facilities have been improved within a time limit, and residents or enterprises within the protection distance have been relocated. Camel Xiangfan pollution control facilities are not operating properly and are ordered to rectify within a limited time. The sulfuric acid mist absorption device in the Camel Strait production has not been put into use, the sanitary protection distance has not been implemented, the production and rectification have been ordered, the environmental protection and emergency facilities have been perfected within a time limit, and the residents or enterprises within the sanitation protection distance have not been reinstated without inspection by the environmental protection department.
According to public information, Camel Xiangfan is a wholly-owned subsidiary of Camel, while Camel Strait is its holding subsidiary (holding 60%). The two companies were ordered to stop production and rectification, and another subsidiary was ordered to make rectification within a time limit, obviously not a small thing.
Camel shares had a meeting on April 13 this year and was listed on June 2. The mid-to-late May is the key “window period†for the company’s listing. However, it is even more so until June 17, camel’s stock only released an announcement related to environmental protection, saying that it received Gucheng County on June 16th. The Environmental Protection Bureau’s “Notice on Implementing the Supervision of the County Government on Strengthening the Pollution Reorganization of Lead Batteries and Recycled Lead Industry†requires the company to speed up the implementation of the relocation of the Shihua Factory and assist the Gucheng County government in doing a good job in the company’s subsidiary Camel Strait. Residents' relocation work. The reporter checked all the announcements made since the company applied for listing and found no other information about being penalized by the Environmental Protection Agency.
Is Camel shares intentionally concealing the fact that production was ordered to stop production due to environmental problems? Or was the monitoring notice issued by the Hubei Provincial Environmental Protection Agency not sent to camel shares? The reporter got in touch with both parties yesterday. The relevant person in charge of camel shares told the reporter that the company received a notice from the Gucheng County Environmental Protection Bureau on June 16 and disclosed the announcement on the 17th. Is the supervisory notice received by the company the monitoring notice issued by the Hubei Provincial Department of Environmental Protection on May 12? The company does not have a clear reply. However, according to the reporter's understanding, the supervision notice of the Gucheng County Environmental Protection Bureau included the supervision notice of the Hubei Provincial Environmental Protection Agency. Obviously, the company concealed the contents of the supervision notice that required the company to stop production and rectification.
People in Gucheng County Environmental Protection Bureau told reporters that the supervision notice from the Hubei Provincial Environmental Protection Bureau was definitely sent to the company. The responsible person also revealed that camel shares began to stop production and rectification work as early as May, and all production was stopped by the end of May. Due to the process in the chemical industry, the entire shutdown process lasted for about a week. If the EPA says it is true, Camel has already stopped production before it is listed. Another person in charge of the punishment of the same company in the inspection notice file told reporters that he had received the document and had also stopped production for rectification.
Although the news of the halt production of the camel stock production line has not been explicitly announced, there are still some traces that can be found in the public information. In the announcement issued on June 17th, the company specifically mentioned the acceleration of the relocation of the Shihua Factory and assisted the government in the relocation of the residents within the sanitary protection distance of the company's subsidiary Camel Strait.
The "Shihua Factory" is the camel stock mentioned in the supervision notice issued by the Environmental Protection Department of Hubei Province. The factory has four production lines and occupies half of the company's current production capacity (8 production lines). The reporter confirmed yesterday from the company and the local environmental protection department that the camel stock and the Camel Strait are currently in production. According to the local Environmental Protection Agency, camel shares are very cooperative with this environmental audit. Last week, the Hubei Provincial Environmental Protection Agency has already conducted the first inspection of the company. This Tuesday and Wednesday (21st to 22nd), the Hubei Provincial Department of Environmental Protection and The South China Inspection Center of the Ministry of Environmental Protection conducted the second inspection at the company.
Camel shares told reporters that the Shihua factory has started relocation on the 21st of this month, and all four production lines will be moved to the Camel Industrial Park in Xiangyang Economic Development Zone, where Camel Xiangfan is located. It is expected that the entire relocation will end by the end of July.
“Provincial Environmental Protection Department issued a supervision notice on May 12, but the company disclosed that it received the supervision notice from the Gucheng County Environmental Protection Bureau on June 16. Moreover, the two notices on the surface were not the same. They contacted the company only on June 2. Listing, it can be said that the company is involved in the risk of going public.If the supervision notice of the Environmental Protection Agency comes before the company on June 2, it will definitely be a “window period†major issue that will affect the issuance of shares. And very critical.†A sponsor representative yesterday analyzed the reporter.
This sensitive incident has caught the attention of the exchanges and related regulatory authorities. The company was suspended yesterday and will conduct prudent inspections under the supervision of the sponsors. It is believed that investors can finally give a clear explanation.
The reporter learned from the Hubei Provincial Department of Environmental Protection that in March this year, the South China Inspection Center of the Ministry of Environmental Protection and the Hubei Provincial Environmental Protection Agency jointly conducted inspections on the Puyang lead-acid storage battery company. On May 12, it issued a report entitled “Investigating and Dealing with Xiangyang City Partâ€. Lead-acid battery company's monitoring notice of environmental violations, and asked the Puyang City Environmental Protection Bureau to give a monitoring reply before May 22.
The monitoring notice disclosed the pollution problems and penalties in thirteen enterprises in Xiangyang City. Three companies in the notice had camel shares, namely Hubei Camel Storage Battery Co., Ltd. (hereinafter referred to as camel stock) and Camel Group Xiangfan. Battery Co., Ltd. (hereinafter referred to as Camel Xiangfan) and Hubei Camel (Strait) New Battery Co., Ltd. (hereinafter referred to as Camel Strait).
According to the supervision notice issued by the environmental protection department, the Camel shares pollution control facilities are not perfect, the sanitary protection distance has not been implemented, production and renovation have been ordered, environmental protection and emergency facilities have been improved within a time limit, and residents or enterprises within the protection distance have been relocated. Camel Xiangfan pollution control facilities are not operating properly and are ordered to rectify within a limited time. The sulfuric acid mist absorption device in the Camel Strait production has not been put into use, the sanitary protection distance has not been implemented, the production and rectification have been ordered, the environmental protection and emergency facilities have been perfected within a time limit, and the residents or enterprises within the sanitation protection distance have not been reinstated without inspection by the environmental protection department.
According to public information, Camel Xiangfan is a wholly-owned subsidiary of Camel, while Camel Strait is its holding subsidiary (holding 60%). The two companies were ordered to stop production and rectification, and another subsidiary was ordered to make rectification within a time limit, obviously not a small thing.
Camel shares had a meeting on April 13 this year and was listed on June 2. The mid-to-late May is the key “window period†for the company’s listing. However, it is even more so until June 17, camel’s stock only released an announcement related to environmental protection, saying that it received Gucheng County on June 16th. The Environmental Protection Bureau’s “Notice on Implementing the Supervision of the County Government on Strengthening the Pollution Reorganization of Lead Batteries and Recycled Lead Industry†requires the company to speed up the implementation of the relocation of the Shihua Factory and assist the Gucheng County government in doing a good job in the company’s subsidiary Camel Strait. Residents' relocation work. The reporter checked all the announcements made since the company applied for listing and found no other information about being penalized by the Environmental Protection Agency.
Is Camel shares intentionally concealing the fact that production was ordered to stop production due to environmental problems? Or was the monitoring notice issued by the Hubei Provincial Environmental Protection Agency not sent to camel shares? The reporter got in touch with both parties yesterday. The relevant person in charge of camel shares told the reporter that the company received a notice from the Gucheng County Environmental Protection Bureau on June 16 and disclosed the announcement on the 17th. Is the supervisory notice received by the company the monitoring notice issued by the Hubei Provincial Department of Environmental Protection on May 12? The company does not have a clear reply. However, according to the reporter's understanding, the supervision notice of the Gucheng County Environmental Protection Bureau included the supervision notice of the Hubei Provincial Environmental Protection Agency. Obviously, the company concealed the contents of the supervision notice that required the company to stop production and rectification.
People in Gucheng County Environmental Protection Bureau told reporters that the supervision notice from the Hubei Provincial Environmental Protection Bureau was definitely sent to the company. The responsible person also revealed that camel shares began to stop production and rectification work as early as May, and all production was stopped by the end of May. Due to the process in the chemical industry, the entire shutdown process lasted for about a week. If the EPA says it is true, Camel has already stopped production before it is listed. Another person in charge of the punishment of the same company in the inspection notice file told reporters that he had received the document and had also stopped production for rectification.
Although the news of the halt production of the camel stock production line has not been explicitly announced, there are still some traces that can be found in the public information. In the announcement issued on June 17th, the company specifically mentioned the acceleration of the relocation of the Shihua Factory and assisted the government in the relocation of the residents within the sanitary protection distance of the company's subsidiary Camel Strait.
The "Shihua Factory" is the camel stock mentioned in the supervision notice issued by the Environmental Protection Department of Hubei Province. The factory has four production lines and occupies half of the company's current production capacity (8 production lines). The reporter confirmed yesterday from the company and the local environmental protection department that the camel stock and the Camel Strait are currently in production. According to the local Environmental Protection Agency, camel shares are very cooperative with this environmental audit. Last week, the Hubei Provincial Environmental Protection Agency has already conducted the first inspection of the company. This Tuesday and Wednesday (21st to 22nd), the Hubei Provincial Department of Environmental Protection and The South China Inspection Center of the Ministry of Environmental Protection conducted the second inspection at the company.
Camel shares told reporters that the Shihua factory has started relocation on the 21st of this month, and all four production lines will be moved to the Camel Industrial Park in Xiangyang Economic Development Zone, where Camel Xiangfan is located. It is expected that the entire relocation will end by the end of July.
“Provincial Environmental Protection Department issued a supervision notice on May 12, but the company disclosed that it received the supervision notice from the Gucheng County Environmental Protection Bureau on June 16. Moreover, the two notices on the surface were not the same. They contacted the company only on June 2. Listing, it can be said that the company is involved in the risk of going public.If the supervision notice of the Environmental Protection Agency comes before the company on June 2, it will definitely be a “window period†major issue that will affect the issuance of shares. And very critical.†A sponsor representative yesterday analyzed the reporter.
This sensitive incident has caught the attention of the exchanges and related regulatory authorities. The company was suspended yesterday and will conduct prudent inspections under the supervision of the sponsors. It is believed that investors can finally give a clear explanation.
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