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Shagang Group controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2021

    CSRC opens investigation into Shagang Group over suspected disclosure violations

    Investigation

    Shagang Group disclosed that the China Securities Regulatory Commission had decided to open an investigation into the company over suspected information-disclosure violations. The source reports that no conclusive opinion or decision had been received at the time.

    Company response

    • Ongoing disclosure — 沙钢集团

      立案调查期间，其将积极配合证监会的调查工作，并严格按照监管要求履行信息披露义务。

    Source excerpt

    • 沙钢集团称，目前尚未收到上述立案调查的结论性意见或决定，公司生产经营情况正常，对其经营及偿债能力无影响。
    • 11月2日，沙钢集团对外披露，因涉嫌信息披露违法违规，证监会已决定对该公司立案调查。
    Source

  2. 2018

    Millions of Tons of Steel Slag Piled Along the Yangtze; Environmental Inspectors Criticize Perfunctory Rectification

    In June 2018, a central environmental inspection found that Shagang Group had carried out perfunctory rectification of its dust problems, with millions of tons of steel slag and other solid waste piled on the banks of the Yangtze River and lacking pollution-control facilities. The group subsequently established an environmental protection committee and proposed a renovation plan.

    Source