LB Group(SZ:002601) Zhong Guo Jing Ying Bao·2025-11-26 11:15Core Viewpoint - Longbai Group's subsidiary, Longbai Xiangyang Titanium Industry Co., Ltd., was fined 1.49 million yuan due to a flash explosion accident that resulted in 5 fatalities and 1 injury, highlighting significant safety management issues within the company [1][2]. Summary by Sections Incident Details - The flash explosion occurred on September 2, 2025, at 19:02, in Workshop 4 of Longbai Xiangyang, leading to direct economic losses of 6.4816 million yuan [1]. - The accident was caused by a reaction between sulfuric acid leaking from a desalination water heater and the carbon steel tank, producing hydrogen gas that ignited due to sparks from cutting operations [1]. Investigation Findings - The investigation revealed multiple safety management failures, including a lack of revised regulations and training following a previous acid leak incident [1]. - There was a delay in reporting the incident to local emergency management authorities, which should have been done within one hour [1]. Accountability and Penalties - The legal representative and executive director of Longbai Xiangyang, Jin Mouliang, was found to have significant leadership responsibility for the accident, leading to administrative penalties [2]. - The company’s general manager, Lu Moujun, also bore responsibility for not addressing equipment hazards and improving safety protocols [2]. - In addition to the fine, several personnel from Longbai Xiangyang received a 10-day suspension of their safety management qualifications [2]. Company Response - Longbai Group stated that the administrative penalty does not constitute a major violation that would lead to forced delisting and will not significantly impact the company's overall operations or financial status [2]. - The company has committed to conducting a thorough review of safety practices and ensuring compliance with relevant laws and regulations [2].