TIANJIN Capital Environmental Protection, which lists A shares on the Shanghai Stock Exchange and H shares on the Hong Kong Stock Exchange, said Friday that it was reprimanded by the China Securities Regulatory Commission (CSRC) for failure to seek shareholder approval for its plan to invest 4 million yuan (US$0.48 million) in two joint ventures among other violations.

　In a statement, Tianjin Capital said it has proposed certain rectification measures to address the issues identified by the CSRC following an inspection on a random basis during June 28 to July 8.

　Tianjin Capital, an unprofitable chemical maker revamped into a public-works investor, was also found to have failed to fully adjust its 2001 operating revenue.

　The firm said in the statement that it had called a special shareholders meeting on Oct. 10 to discuss and vote on the plan and had made the necessary adjustment some time in July.

　Other violations include its chairwoman Ma Baiyu’s holding of both the positions as the general manager of the company as well as the vice-chairman of the company’s controlling shareholder and the inadequate development of the firm’s financial system.

　Tianjin Capital is the latest listed company to be investigated by China’s market regulators for violating corporate and securities laws.

　The CSRC has tightened its crackdown on market irregularities ranging from accounting fraud to disclosure problems since last year in a bid to instill discipline and bring Asia’s second-largest stock market in line with global standards.