Gpro Titanium Industry is facing criminal liability over allegations that its wholly owned subsidiary committed environmental pollution crimes, and its share price hit limit-down for a second consecutive trading day. As of 10:45 a.m., the stock was at 2.18 yuan per share, down 9.92 percent, with sell orders at the limit-down price totaling 800,000 lots. Turnover reached 32.92 million yuan, and the latest market capitalization stood at 2.151 billion yuan. The company said in an announcement that its subsidiary Nanjing Titanium Dioxide had received an indictment from the procuratorate over suspected illegal dumping of hazardous substances. If the subsidiary is found to have committed a corporate crime, the company's stock could face mandatory delisting for major violations of the law. In the first half of the year, the company reported revenue of 808 million yuan, down 12.26 percent year on year, while net loss attributable to shareholders narrowed substantially to 14.26 million yuan.
Jilin Gpro Titanium Industry Co LtdSubsidiary indicted for environmental crimes, risking mandatory delisting.
