A-Share Green Weekly Report | 7 Listed Companies Exposed to Environmental Risks, China Construction Holding Company Subsidiary Fined for Illegal Dumping of Construction Waste

Randomly 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 fine…

In the second week of March 2026, which listed companies’ environmental protection and disclosure responsibilities lit up red? Let’s see in A-Share Green Weekly Report Issue 236.

The Daily Economic News, in collaboration with the well-known NGO in the environmental field, Public Environment Research Center (IPE), has been collecting and analyzing authoritative data since September 2020 from 31 provinces (autonomous regions, municipalities directly under the central government), and 337 prefecture-level city governments on environmental quality, emissions, and pollution source regulation records. Weekly, it compiles environmental information on thousands of listed companies and tens of thousands of subsidiaries (including branches, shareholding companies, and controlling companies) in China, publishing the “A-Share Green Weekly Report” 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 reporter found that seven listed companies recently exposed environmental risks.

One-week Green Review:

China State Construction Holdings was fined 750,000 yuan for illegally dumping solid waste

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

Distribution of listed companies involved in environmental risk violations (second week of March)

The data shows that illegal and non-compliant activities in the ecological environment sector are linked to seven listed companies. Four of these are controlled by state assets.

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

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

The penalty notice issued by the Zhejiang Government Service Network, numbered “Hangbin Zongzhifa [2025] No. 000163,” shows that from November 23, 2024, to August 7, 2025, the Fourth Engineering Bureau repeatedly loaded construction waste at a project site at the intersection of Baima Lake Road and Changhe Road in Binjiang District, Hangzhou, transported it out, and dumped it illegally. 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, the bureau was fined 750,000 yuan. The penalty was decided on January 26.

On March 11, the Daily Economic News reporter sent an interview request via China State Construction’s official email. On March 12, a staff member responded that the situation regarding the penalty needed to be confirmed with relevant departments before replying. They also said they would notify 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 Law Enforcement Bureau issued a penalty notice numbered “2511030013,” showing that Huayu Automobile (SH600741) controlling company Shanghai Huizhong Automobile Manufacturing Co., Ltd. (hereinafter referred to as Shanghai Huizhong) was fined 300,000 yuan and had its wastewater discharge permit revoked for “not complying with the requirements of the wastewater discharge permit for sewage into drainage pipes.”

On March 11, the Daily Economic News reporter sent an interview request via Huayu Automobile’s official email. 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 was not significantly related to whether wastewater met standards. The company, Shanghai Huizhong, is currently appealing the penalty, and the outcome is still pending. If illegal behavior is confirmed, Huayu Automobile will disclose details in its periodic reports.

Environmental penalties:

Controlling company fined 600,000 yuan, Sany Heavy Energy ordered to rectify and has completed rectification

Data shows 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 Baicheng City Ecology and Environment Bureau, numbered “Baihuan Fa [2025] TY009,” states that Tongyu Wind Power signed a general solid waste treatment contract with Lianyungang Huayang New Energy Technology Co., Ltd. (hereinafter Huayang New Energy), with Jilin Chiyang New Energy Technology Co., Ltd. (hereinafter Chiyang New Energy) acting as a agent for Huayang New Energy. Tongyu Wind Power provided 31 hazardous waste containers, including hydraulic oil drums, lubricating grease drums, and cleaning agent drums, totaling about 0.59 tons, to Chiyang 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, Baicheng City Ecology and Environment Bureau held a hearing, during which Tongyu Wind Power argued that the violation was minor, caused no harm, and was unintentional. On February 10, the bureau’s case review committee rejected these reasons. 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 was decided on March 4.

On March 11, the Daily Economic News reporter sent an interview request via Sany Heavy Energy’s official email. On March 13, Sany Heavy Energy responded that they attach great importance to environmental management, and have 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 Responsibility, 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 data on their direct or indirect shareholding companies’ environmental performance is incorporated into the A-share green report database.

It should be noted that the disclosure of environmental information depends on the continuous improvement of environmental regulatory information transparency. From the 2008 “Measures for the Disclosure of Environmental Information (Trial)” to the revised “Environmental Protection Law of the People’s Republic of China,” Chapter 5 explicitly establishes “information disclosure and public participation,” ensuring institutional support for transparency.

Relevant laws and regulations stipulate that citizens, legal persons, and other organizations have the right to access environmental information, participate in, and supervise environmental protection. Environmental protection authorities at all levels and other departments responsible for environmental supervision should disclose environmental information and facilitate public participation.

The “2018–2019 Pollution Source Supervision Information Disclosure Index (PITI) Report” by IPE and the Natural Resources Defense Council (NRDC) also indicates that environmental information is increasingly recognized as a principle of “disclosure as the norm, non-disclosure as the exception.”

If you have questions about the environmental data in this project or wish to communicate or provide feedback on environmental issues related to the list, please contact Blue Map.

(Interns Hao Yuqing, Ren Yaxuan, and Cheng Yao also contributed to this article)

Reporter | Liu Zhiyuan

Editors | Chen Kemin, Chen Junjie, Xiang Jianglin