(Yicai)July 16 -- Shares of Nongfu Spring dropped even though the Chinese bottled water giant said the report on the level of bromate in its water products was inaccurate.

Nongfu Spring [HKG: 9633] was trading down 2.7 percent at HKD32.60 (USD4.49) as of 2.50 p.m. in Hong Kong today, after plunging 4.6 percent yesterday.

The product the Hong Kong Consumer Council tested was drinking water but was evaluated based on natural mineral water standards, the Hangzhou-based company said in a statement today.

Nongfu Spring's bottled water contains 3 micrograms per liter of bromate, which is the maximum acceptable concentration for natural mineral water set by the European Union, according to a report on 30 bottled water brands released by the Hong Kong Consumer Council yesterday. However, the level is much lower than the maximum of 10 micrograms/liter for drinking water set by the United States, Japan, the United Kingdom, and the World Health Organization.

Nongfu Spring also criticized the Hong Kong Consumer Council for using third-party instead of domestic standards to evaluate drinking water produced and sold in China, clarifying that its drinking water fully complies with domestic and international safety standards and qualifies as a high-quality product.

Moreover, the Hong Kong Consumer Council used unprofessional and deliberately misleading terms in the report, Nongfu Spring said. Instead of "compliant" or "non-compliant," the authority used "maximum limit," which can lead consumers to misconstrue the safety of the product, it pointed out.

Therefore, Nongfu Spring demands explanations and an apology from the Hong Kong Consumer Council for the report.

Bromate, which decomposes easily when heated, is classified as a Group 2B potential carcinogen. It is a byproduct generated when natural water sources, such as mineral and spring water, undergo ozone disinfection.

Editor: Futura Costaglione