Jiangsu Asia-Pacific Light Alloy Technology (SHE:002540) received an administrative penalty from the Nantong Emergency Management Bureau following a safety incident at its subsidiary, APT (Nantong), according to a Tuesday filing with the Shenzhen bourse.
APT was fined 1.5 million yuan, and Zhou Fuhai, the company's chairman, received an individual fine of 871,200 yuan. The company has implemented corrective measures to improve safety management and prevent future incidents. Despite the penalties, the company does not anticipate a significant impact on its operations or financial performance.