7 Listed Companies Exposed to Environmental Risks; China Construction Holding Company Fined for Illegal Dumping of Construction Waste

Daily Economic News Reporter | Liu Zhiyuan Daily Economic News Editor | Chen Junjie

Ignoring regulations and dumping construction waste, China State Construction Engineering Corporation (SH601668) was fined 750,000 yuan; providing or entrusting hazardous waste to unqualified units for disposal, Sany Heavy Energy (SH688349) received a 600,000 yuan penalty…

In the second week of March 2026, which listed companies’ environmental protection and information disclosure responsibilities lit up red? Let’s see the 236th issue of A-share Green Weekly.

Since September 2020, the Daily Economic News has partnered with the well-known environmental NGO, the Public Environment Research Center (IPE), to collect and analyze authoritative data from 31 provinces (autonomous regions, municipalities directly under the central government), and 337 prefecture-level cities on environmental quality, emissions, and pollution source regulation records. Weekly, they gather environmental information from thousands of Chinese listed companies and tens of thousands of subsidiaries (including branches, shareholding companies, and controlling companies), publishing the “A-Share Green Weekly” to promote transparency and sunshine in the environmental information of listed companies’ operations through environmental databases and professional analysis and dissemination.

Based on data collected in the second week of March, the Daily Economic News found that seven listed companies recently exposed environmental risks.

One-week Green Review: China State Construction Engineering Corporation’s subsidiary fined for dumping construction waste

Beyond management capabilities, financial status, and industry competition, environmental risks are increasingly becoming a significant operational risk for listed companies. Environmental risks concern corporate development and image.

Data from this issue show that illegal and non-compliant activities in the ecological environment sector are linked to seven listed companies, four of which are controlled by state assets.

The Daily Economic News reviewed that behind these seven companies are 592,900 shareholders, and their investment targets appear on the environmental risk list, potentially exposing them to investment risks.

Notably, China State Construction Engineering Corporation’s subsidiary, China Construction Fourth Engineering Bureau Co., Ltd. (hereinafter referred to as China Construction Fourth Bureau), was fined 750,000 yuan by the Binjiang District Comprehensive Administrative Law Enforcement Bureau of Hangzhou City for dumping construction waste at will.

The penalty notice issued by the Zhejiang Government Service Network, numbered “Hangbin Zongzhifa [2025] No. 000163,” shows that China Construction Fourth Bureau repeatedly loaded construction waste onto transportation units at the project site at the intersection of Baima Lake Road and Changhe Road in Binjiang District, Hangzhou, from November 23, 2024, to August 7, 2025, and transported and dumped the waste without authorization. According to Article 111, Paragraph 1, Item 4 of the “Law of the People’s Republic of China on the Prevention and Control of Environmental Pollution by Solid Waste,” China Construction Fourth Bureau was fined 750,000 yuan. The penalty decision was made on January 26, 2026.

On March 11, the Daily Economic News sent an interview request via China Construction’s official electronic mailbox. On March 12, a staff member from China Construction responded that the situation regarding the penalty needed to be confirmed with relevant departments before replying. They also said they would inform relevant personnel to check the interview request. As of the time of publication, no further response was received.

Additionally, the Shanghai Municipal Urban Management and Administrative Law Enforcement Bureau issued a penalty notice numbered “2511030013,” indicating that Huayu Automobile (SH600741) controlling company, Shanghai Huizhong Automobile Manufacturing Co., Ltd. (hereinafter referred to as Shanghai Huizhong), was fined 300,000 yuan for “not discharging sewage according to the requirements of the sewage discharge permit” and had its permit revoked.

On March 11, the Daily Economic News sent an interview request via Huayu Automobile’s official electronic mailbox. On March 12, Huayu Automobile told the reporter by phone that the odor was caused by blocked sewage pipes and high temperatures, and that this situation was not significantly related to whether wastewater met standards. Currently, the involved company, Shanghai Huizhong, is appealing the penalty with relevant authorities, and the final outcome is still pending. If illegal activities are confirmed, Huayu Automobile will disclose details in its periodic reports.

Environmental Penalties: Controlling company fined 600,000 yuan, Sany Heavy Energy ordered to rectify immediately

Data from this issue show that Sany Heavy Energy’s controlling company, Tongyu Sany Wind Power Equipment Technology Co., Ltd. (hereinafter referred to as Tongyu Wind Power), was fined 600,000 yuan by the Baicheng City Ecology and Environment Bureau for providing or entrusting hazardous waste to unlicensed units or other operators for collection and storage.

The penalty notice issued by the Baicheng City Ecology and Environment Bureau, numbered “Baihuan Fa [2025] TY009,” shows that Tongyu Wind Power signed a general solid waste treatment contract with Lianyungang Huayang New Energy Technology Co., Ltd. (hereinafter referred to as Huayang New Energy), with Jiayang New Energy Technology Co., Ltd. (hereinafter referred to as Jiayang New Energy) acting as the agent for collection. Tongyu Wind Power provided 31 hazardous waste containers, including hydraulic oil drums (15), lubricating grease drums (5, waste category HW08, waste code 900-249-08), and cleaning agent drums (11, waste category HW49, waste code 900-041-49), totaling approximately 0.59 tons, to Jiayang New Energy, which lacked a hazardous waste business license.

The notice also states that Tongyu Wind Power applied for a hearing on December 23, 2025. On January 16, 2026, a现场 hearing was held by the Baicheng City Ecology and Environment Bureau, during which Tongyu Wind Power argued that its violations were minor, caused no harm, and lacked subjective intent. On February 10, after deliberation by the bureau’s case review committee, these reasons were rejected. Ultimately, based on Articles 112, Paragraph 1, Items 4 and 2 of the “Law of the People’s Republic of China on the Prevention and Control of Environmental Pollution by Solid Waste,” Tongyu Wind Power was fined 600,000 yuan. The penalty decision was issued on March 4.

On March 11, the Daily Economic News sent an interview request via Sany Heavy Energy’s official electronic mailbox. On March 13, Sany Heavy Energy responded that it values environmental management and has ordered Tongyu Wind Power to immediately rectify the issues, which has now been completed.

In recent years, with the rising popularity of ESG (Environmental, Social, and Governance) investment concepts, investors are paying more attention to companies’ sustainable development capabilities. The environmental responsibilities of listed companies’ financial and strategic investments should also be emphasized, and environmental data of direct or indirect shareholding companies are incorporated into the A-share Green Report project database.

It should be noted that the disclosure of environmental information data depends on the continuous improvement of environmental regulatory information transparency.

The “2018-2019 Pollution Source Regulation Information Disclosure Index (PITI) Report” compiled by the Public Environment Research Center (IPE) and the Natural Resources Defense Council (NRDC) also points out that environmental information is gradually recognized as a principle by governments and society, with “disclosure as the norm and non-disclosure as the exception.”

(Contributors: Interns Hao Yuqing, Ren Yaxuan, and Cheng Yao)