The State Council issued the "Action Plan for Comprehensive Solid Waste Management," intensifying the crackdown on environmental crimes related to solid waste. On January 4, the State Council issued the "Action Plan for Comprehensive Solid Waste Management," reinforcing environmental law enforcement and supervision. The plan strictly enforces laws and regulations concerning solid waste pollution prevention and control, strengthening whole-chain oversight from production to disposal. It calls for severe penalties against environmental crimes involving solid waste, holding violators accountable according to the law, and intensifying punishment for illegal activities with clear malicious intent and severe environmental harm, such as secret pipe discharges. Environmental authorities will designate serious cases of ecological damage and pollution for special oversight. Continuous "waste clearance operations" will be carried out in key regions. A cross-departmental, cross-regional joint supervision and law enforcement mechanism will be established to enhance the crackdown on illegal cross-province solid waste dumping. Prominent environmental issues like illegal solid waste disposal will be incorporated into ecological and environmental protection inspections.
ByteDance reported internal violations for the third quarter: 14 individuals were transferred to judicial authorities for suspected criminal offenses. On December 25, 2025, ByteDance's Corporate Discipline and Professional Ethics Committee disclosed the handling of internal violation cases for the third quarter of 2025. The report indicated that a total of 120 employees were dismissed for violating company red lines, with 28 of them publicly named. Among the 28 named employees, 14 were transferred to judicial authorities for suspected criminal offenses; the company also reported their information to an industry alliance and revoked their stock options. Four others faced severe violations, resulting in similar reporting to the industry alliance or cancellation of options.
This week, Shunxin Agriculture, CITIC Securities, CTG DUTY-FREE, and 22 other A-share listed companies revised their ESG rules. On January 4, according to incomplete statistics from 21st Century Business Herald reporters, from December 29, 2025, to January 4, 2026, a total of 25 A-share listed companies published detailed ESG committee rules or management measures, including Shunxin Agriculture, CITIC Securities, CTG DUTY-FREE, and Guolian Minsheng. Among them, five companies—Boshi Se, Dangsheng Technology, Shuijing Optoelectronics, Guotou Capital, and Antong Holdings—released ESG management measures. Reporters noted that Dangsheng Technology specified ESG management topics in its measures, while Shuijing Optoelectronics clarified that the company should hold relevant personnel accountable if ESG targets are not met or ESG controversy events occur.
Yibin Paper (600793.SH): Wholly-owned subsidiary Huijie Environmental Protection disputes the final criminal judgment and plans to apply for a retrial. On December 30, 2025, Yibin Paper announced that its wholly-owned subsidiary, Huijie Environmental Protection, received the "Criminal Judgment" from the Chengdu Railway Transport Intermediate Court of Sichuan Province, which upheld the first-instance court's ruling that Huijie Environmental Protection committed environmental pollution crimes and imposed a fine of RMB 1 million. Huijie Environmental Protection believes there were errors in the factual findings and legal application of the judgment and plans to apply for a retrial within the legal time limit, requesting acquittal or a revised judgment. The judgment has taken effect, and the company will continue to monitor the case's progress and fulfill its information disclosure obligations.
*ST Rendong (002647.SZ): Subsidiary Helibao fined and confiscated RMB 74.88 million for regulatory violations. On December 31, 2025, *ST Rendong announced that its controlled subsidiary, Guangzhou Helibao Payment Technology Co., Ltd., recently received a "Administrative Penalty Decision" from the Guangdong Branch of the People's Bank of China. Helibao was found to have committed four regulatory violations, including breaches of clearing management regulations, during the period from September 1, 2022, to July 31, 2024. It was given a warning, publicly criticized, fined RMB 62.7997 million, and had illegal gains of RMB 12.0802 million confiscated, totaling penalties of RMB 74.8799 million.
A-share listed companies distributed cumulative dividends of RMB 2.6 trillion in 2025. By December 31, 2025, 3,767 A-share listed companies had implemented cash dividends, with a total distribution amount of RMB 2.6 trillion. In terms of individual company distributions, 37 stocks paid dividends exceeding RMB 10 billion for the year. Among them, Industrial and Commercial Bank of China had the highest dividend amount at RMB 160.169 billion, followed by China Construction Bank at RMB 149.359 billion. Agricultural Bank of China ranked third with dividends of RMB 126.484 billion. Bank of China and China Mobile both paid dividends exceeding RMB 100 billion, ranking fourth and fifth, respectively. Stocks ranked sixth to tenth were PetroChina, Kweichow Moutai, China Shenhua Energy, CNOOC, and China Merchants Bank.
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