Lomon Billions subsidiary suspended after fatal accident

On the evening of September 2, 2025, Lomon Billions Group's wholly-owned subsidiary, Lomon Billions Xiangyang Titanium Industry Co., Ltd., experienced a safety accident at its sulfuric acid production line. The incident tragically led to the deaths of five individuals. One person who underwent surgery is currently in stable condition.

Following the accident, Lomon Billions Xiangyang initiated rescue efforts and reported to local authorities. On September 5, 2025, the company received a "Decision on On-Site Handling Measures" from the local emergency management department, ordering a "temporary suspension for rectification." The Xiangyang subsidiary has ceased operations to comprehensively identify and eliminate safety hazards and aid the accident investigation.

Lomon Billions Xiangyang is a key production base for the company's main product, titanium dioxide, and its operations are currently suspended as per government directives. Other subsidiaries of the company continue to operate normally. The company has expressed condolences to the victims' families and established a special working group for post-accident management. This event is not expected to significantly impact the company's ongoing production and operational capabilities.