(Yicai Global) April 19 -- China's cyberspace administrator has fined major domestic photo provider Visual China Group's Tianjin unit CNY300,000 (USD44,700) for providing clients with photos containing sensitive and harmful information.
Neither the involved government agency nor the Beijing-based firm has given any further details on the violation.
A company that refuses to correct illegal behavior or acts will receive a fine of between CNY100,000 and CNY500,000, and the government can order it to suspend operations and shut down websites.
The photo provider took to Weibo to apologize yesterday, saying it will enhance content monitoring. The firm accepts the decision and will pay the fine on time, it said. The penalty will not greatly affect its business or result in compulsory delisting for serious violations, VC added.
VC posted CNY700 million (USD104.4 million) in operating revenue and CNY230 million in net profit for the first three quarters of last year. The firm's stock price [SHE:000681] closed 7.3 percent higher at CNY23.02 (USD3.43) today after hitting the maximum allowed fall for several days last week following a copyright dispute.
The firm received criticism online last week after claiming the copyright for photos including the country's national flag and the world's first-ever picture of a black hole. It tried to charge fees for using the images.
Editor: William Clegg