(Yicai Global) July 15 -- Narada Power Source, a Chinese battery maker, has notified its investors that the firm's general manager and third-largest shareholder is likely to face criminal charges for drunk driving.

Narada will disclose timely information about the aftermath of the incident while it will continue daily operation as usual, the Hangzhou-based firm said in a statement yesterday. Zhu was hired as GM in January, and he is in charge of accounting. He held more than 7 percent of the company's equity at the end of last year. 

According to the Chinese law, a driver who has more than 80 milligrams of alcohol in 100 mg of blood will lose their driver's license, receive a fine, and spend from one month to six months in prison. 

Narada projected that its first-half net profit will rise 10 percent to CNY330 million (USD48 million) or fall by 20 percent to CNY240 million from the previous year, according to the company's estimate released on July 13. The decline could be caused by increased research and development costs and lead price fluctuations stemming from Narada Huabo New Material and Technology, its lithium recycling unit, the parent added. 

Narada's [SHE 300068] stock price fell nearly 4 percent this morning to CNY11.4 (USD1.70). 

Editor: Emmi Laine