After the valuation controversy and the cool of the subsidiary companies to sue Millet patent infringement, recently there are environmental protection agencies alleged that the Millet IPO alleged violations of disclosure.
Millet's IPO road is twists. May 22, the Environmental Protection Agency Public Environment Research Center (IPE) and the Green Jiangnan Public Environmental Concern Center (PECC) jointly released a "supply chain to reproduce more serious pollution of millet IPO suspected violations of Disclosure" report (hereinafter referred to as ' the report '). The report said that the millet suspected soft board supplier Yi Jia Electronics ' Suzhou ' Co., Ltd. (hereinafter referred to as ' Yi Jia Electronics ') since 2014, many times the adverse environmental records. March 2018, Yi Jia Electronics also due to excessive discharge of water pollution, Suzhou Municipal Environmental protection Bureau punished 117,000 yuan.
Millet did not disclose the ' environmental and social risks ' of the management of the supply chain, and the alleged IPO was breached.
Report cover
At present, the environmental protection organizations have written to the HKEx, the HKEx on 24th, said that it has noted the relevant issues, is being dealt with by the relevant departments, the results will be timely feedback.
Yi Jia Electronics and more millet suspected suppliers of environmental violations "Report" disclosed that Yi Jia Electronics is Taiwan Yi Jia Technology Co., Ltd. in mainland China's wholly-owned enterprises.
According to the public information, Yi Jia has established a supply relationship with Millet company since 2013. According to the "Business Times" June 3, 2014 report: ' Yi Jia (2402) yesterday released May revenue, up to 1.042 billion yuan, a record in the same year, the annual increase rate of 19%, of which the soft board components revenue of 932 million yuan, for the history of the high standard, is also the third high record; Industry pointed out that Yi Jia for the millet supply chain, this year millet has been repaired mobile phone shipments to 60 million, Yi Jia is expected to become beneficiaries.
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According to the FT, Yi Jia may be an indirect supplier of millet. We cannot directly explain whether Millet is our customer. ' Yi Jia said, ' Jiayi technology is not directly to the millet sales, but sales to other circuit board manufacturers. Through these manufacturers, we should also provide the parts for millet. The millet employees may have visited our (Suzhou) factory before.
' On the afternoon of May 12, IPE and PECC staff in Yi Jia Electronics north of the Code bridge found that Yi Jia electronic west Side fence has to the river drainage water phenomenon, draining the location from the code bridge about 100 meters.
Ipe and PECC staff use ph test paper to test the field water samples, comparing the ph value between 2 and 3, showing strong acidity.
The two bodies of water samples sent to the qualified Third-party testing bodies for analysis of the sample, the results showed that the copper content in the samples exceeded 195 times times the ph value of 2.46, Yi Jia Electronics suspected through the dark tube discharge of acidic copper-containing wastewater.
Green Jiangnan (PECC) Director Fang said the local authorities last week to the scene to investigate the electronic Suzhou Factory Yi Jia.
In addition, the report also disclosed the Deep Ultra Photoelectric (Shenzhen) Co., Ltd., Tongda (Xiamen) technology Co., Ltd., long surplus precision, Wen Tai group, such as a number of ' suspected millet suppliers ', these enterprises in recent years have different degrees of environmental misconduct.
Millet company IPO suspected illegal disclosure?
According to the report, in the context of global sustainable development, the Environment and social governance (ESG), as public holding companies, are becoming more and more concerned by the stakeholders, including investors, and the HKEx has made a clear request for the disclosure of the listed IPOs.
According to the guidelines on environmental, social and governance reporting, which was amended by HKEx in December 2015, ' the Environmental and social risk policy for the management of supply chains ' is ' general disclosure ' and it is the responsibility of enterprises to ' interpret ' without complying '.
So millet has to do the "environmental, social and Governance report Guidelines" requirements of the ' non-compliance on the interpretation '? The Millet prospectus has this statement: ' We employ outsourced partners to assemble self-developed hardware products and rely on partners to supply eco-chain hardware products. We do not operate any production or assembly facilities, operate only some key warehouses and appoint third party transport products. Therefore, we are not faced with significant health, safety or environmental risks.
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The report said that the production of millet on the income of mobile phones and eco-chain hardware products, is dependent on the supply of partners, these enterprises are naturally regarded as the millet company's supply chain, millet companies must assume ' management of the supply chain of environmental and social risks ' disclosure responsibility.
However, Ipe and PECC said, inquires the Millet company website and its public document, did not see the millet to ' manage the supply chain the environment and the social risk ' to make the disclosure.
Some media reported that millet company related people said that the current enterprise is in the pre-IPO period of silence.