Pigment Industry Leader Faces Incident! Shuangle Subsidiary Accident Causes 1 Death

On May 25, Shuangle Pigment Co., Ltd. released an announcement stating that a safety accident occurred that day at its wholly owned subsidiary, Shuangle Pigment (Taixing) Co., Ltd., resulting in the death of an operator.

After the accident occurred, Shuangle Taixing immediately activated its emergency response plan to carry out rescue operations, established a special accident investigation team to advance aftermath management and investigation matters, and reported the incident to the local government authorities according to procedures. The specific cause of the accident and the economic losses are still under investigation, and the company is currently unable to estimate the direct losses. The company is actively cooperating with the emergency management department in conducting subsequent response work. Shuangle Co., Ltd. extends its condolences to the deceased employees and expresses sympathy to their families.

The company said that its various production bases and workshop operations are currently functioning normally. According to preliminary estimates, this accident will not have a material impact on the company's production and operations. Going forward, the company will draw deep lessons from the accident, conduct comprehensive safety inspections, strengthen safety production management, standardize production operating procedures, and promptly disclose the latest developments related to the accident.

According to available information, Shuangle Co., Ltd. was founded in 1983 and is a national high-tech enterprise specializing in the R&D, production, and sales of high-performance color pigments. The company operates two major production bases in Taixing and Xinghua, Jiangsu Province, and its products are used in inks, coatings, plastics, high-end manufacturing, new materials, and other fields. Shuangle Taixing, which is involved in this incident, is the company’s core production base, mainly producing phthalocyanine pigments, copper phthalocyanine, pigment violet, and other products. In 2025, it achieved operating revenue of RMB 976 million and net profit of RMB 22.78 million.

On the performance front, Shuangle Shares faced significant operational pressure in the first quarter. According to the company’s latest financial report, revenue for Q1 2026 reached RMB 393 million, up a modest 1.76% year on year; however, net profit attributable to shareholders turned to a loss of RMB 5.3624 million, down 124.49% year on year, shifting from profit to loss. Due to a 8.83% year-on-year increase in operating costs, which far outpaced revenue growth, the company’s gross margin fell from 15.58% in the same period last year to 9.71%, a sharp decline of 5.87 percentage points, indicating significant cost pressure.

This safety incident, coupled with mounting performance pressure, may place higher demands on the company’s subsequent production control and compliant operations, once again drawing attention to the issue of balancing safety production and profitability in the industry.