The Emergency Management Bureau of Huangpu District, Guangzhou recently released an assessment report imposing a penalty on Guangzhou Farasis Technology Co., Ltd., a wholly owned subsidiary of Farasis Energy, for the April 7 machinery injury accident. The subsidiary involved was fined 525,000 yuan. In the early hours of April 7, 2025, a machinery injury accident occurred in the unloading area of the L1 tunnel furnace in Farasis's cell assembly workshop, causing one death and direct economic losses of about 1.25 million yuan. The accident investigation determined that this was a production safety liability accident caused by workers violating rules and engaging in risky operations, as well as inadequate corporate safety management. The equipment involved had not yet completed acceptance at the time of the accident. The project manager surnamed Wang, dispatched by equipment supplier Times High Tech, was fined about 33,000 yuan. Times High Tech is currently in the pre-listing tutoring period for the Beijing Stock Exchange. As of the close of trading on August 21, Farasis Energy's share price was 9.62 yuan, with a total market value of 11.76 billion yuan.
Farasis Energy Gan Zhou Co LtdSubsidiary fined 525,000 yuan for fatal accident, highlighting safety management failures.
