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Subsidiary of Chihong Zn & Go Company penalized for production safety accident
2019-08-15 16:40:42 【Print】
On August 13, Yunnan Chihong Zn & Go Co., Ltd. announced that Yunnan Yongchang Lead and Zinc Co., Ltd., its holding subsidiary, received the "Decision on Administrative Penalty" issued by Longling Emergency Management Bureau on August 12, 2019. Yongchang was fined RMB250,000.00 (USD35,581) for lead and zinc.
The decision shows that Yongchang lead and zinc production safety accident occurred on June 6, 2019, which resulted in one person's death due to mechanical injury.
Chihong Zn & Go Co., Ltd. holds 93.08% of Yongchang Lead and Zinc. In 2018, Yongchang produced 12,000 tons of zinc ingots and 22,900 tons of lead and zinc metals, including 7,900 tons of lead metals and 15,000 tons of zinc metals. Yongchang Lead and Zinc achieved RMB519.1882 million (USD73.87 million) of business income, accounting for 2.74% of the company's annual business income in 2018, and achieved RMB21.476 million (USD2.99 million) of net profit, accounting for 3.45% of the company's annual net profit attributable to listed companies in 2018. The administrative penalty imposed on Yongchang Lead and Zinc Company will not have a significant impact on the company's production and operation.
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The decision shows that Yongchang lead and zinc production safety accident occurred on June 6, 2019, which resulted in one person's death due to mechanical injury.
Chihong Zn & Go Co., Ltd. holds 93.08% of Yongchang Lead and Zinc. In 2018, Yongchang produced 12,000 tons of zinc ingots and 22,900 tons of lead and zinc metals, including 7,900 tons of lead metals and 15,000 tons of zinc metals. Yongchang Lead and Zinc achieved RMB519.1882 million (USD73.87 million) of business income, accounting for 2.74% of the company's annual business income in 2018, and achieved RMB21.476 million (USD2.99 million) of net profit, accounting for 3.45% of the company's annual net profit attributable to listed companies in 2018. The administrative penalty imposed on Yongchang Lead and Zinc Company will not have a significant impact on the company's production and operation.
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