The Central Environmental Protection Inspector Group handed over a stable medical pollution case. The prospectus was not disclosed.
According to editors of China Economic Net: Steady Medical Products Co., Ltd. (hereinafter referred to as “Steady Medical Care”) has received a lot of attention since the publication of the IPO prospectus. There is no reason for this, only because the stable medical care and its subsidiaries have been punished by the Environmental Protection Agency, the Food and Drug Administration, the Customs, the Human Resources and Social Security Bureau, the taxation department, and the Market Inspection Bureau for many times during the reporting period.
At the end of 2016, the Central Environmental Protection Inspector Group found that there were environmental problems such as excessive discharge of wastewater and smuggling of waste water from several sewage treatment stations built by several subsidiaries of Hubei Industrial (Shenzhen) Co., Ltd., and the case was handed over to the Huanggang Municipal People's Government. This incident was not disclosed in the latest 2017 prospectus for Steady Medical Disclosure.
Steady Medical intends to go public on the Shanghai Stock Exchange and plans to issue no more than 123 million shares. The total issued share capital will not exceed 491 million shares. According to public information, Steady Medical Products was established in 1991. It is a high-tech company specializing in equipment manufacturing. The IPO sponsor institution is Guojin Securities and the accounting firm is Lixin Accounting Firm (special general partnership).
According to the prospectus, Steady Medical is an independent innovation enterprise that develops, produces and sells medical dressings and consumer goods with cotton as the main raw material. In 2014-2016, Steady Medical realized revenue of 1.51 billion yuan, 1.819 billion yuan, and 2.56 billion yuan, and achieved net profit of 130 million yuan, 221 million yuan, and 414 million yuan.
During the reporting period, the stable medical treatment was repeatedly punished, and only the relevant punishment information actively disclosed by the company in the prospectus was as high as seven times. Among them, Hubei Steady Medical (Huanggang) Co., Ltd., a stable medical subsidiary, was investigated and dealt with by the Hubei Provincial Environmental Protection Department due to problems such as excessive discharge of sewage, and received wide attention from the society.
In fact, the CSRC is highly concerned about the issue of sound medical environmental compliance.
The CSRC's feedback request for the Steady Medical Prospectus on April 18, 2017 requires that the stable medical supplements disclose the main pollutants and emissions of the company's production and operation, the processing capacity and actual operation of the environmental protection facilities, and the reporting period. The annual environmental protection investment and related expenses, the environmental protection measures adopted by the fundraising project, the corresponding sources and amount of funds, the matching of environmental protection inputs and the amount of pollutants discharged, etc., and the sponsors and issuer lawyers are required to combine the above conditions with the company's production. Whether the operating and proposed investment projects comply with the relevant provisions of the national environmental protection, whether the projects under construction and proposed projects have passed the environmental impact assessment issued verification opinions; if there have been environmental accidents or penalties due to environmental protection issues, in addition to detailed disclosure of relevant circumstances, please The sponsor institution and the issuer's lawyers express their opinions on whether the punishment constitutes a major illegal act.