On August 28, Gpro Titanium Industry Co., Ltd. announced that its wholly-owned subsidiary, Nanjing Titanium Dioxide Chemical Co., Ltd., had received an indictment from the People's Procuratorate of Yizheng City, Jiangsu Province, on charges of suspected environmental pollution.
The procuratorate alleges that Nanjing Titanium violated national regulations by illegally dumping and disposing of hazardous substances, resulting in particularly serious consequences.
The case has not yet proceeded to trial, and the final verdict as well as the amount of any fines remain uncertain. The potential impact on the company's financial and operational performance is likewise unclear at this stage, and will ultimately depend on the court's ruling.
The company cautioned that if the court finds Nanjing Titanium guilty of a corporate crime, it may trigger the mandatory delisting provisions under the Stock Listing Rules for major legal violations, thereby exposing the company's shares to the risk of compulsory delisting. As of the date of this disclosure, the company's daily production and business operations continue to proceed normally.
