CHINATIMES.NET.CN Reporter Qiu Li Chen Feng Beijing report
SupervisionPaying attention to the illegal act of securities transactions, the "black hands" behind the capital market were beaten.On February 22, the official website of the CSRC disclosed three insider trading administrative penalties involving Hengyi Petrochemical (000703.SZ). There were 5 people involved in the case, including one couple, and classmates from the CEO class of the Yangtze River Business School.Insider transactions are as high as 128 million yuan.
"Listed companies should improve inside information confidentiality and compliance management." Zhang Liwen, a Beijing Jingshi Law Firm, told the reporter of "Huaxia Times" that insider trading behaviors not only destroyed the securities market transactionThe fairness of information disclosure and the fairness of trading opportunities have also seriously damaged the spirit of the securities market, weakening the necessary trust and development confidence of the investment entity in the securities trading market, trading rules, and supervisory entities.
5 people involved in Hengyi Petrochemical Insider Trading
February 22, the CSRCs insider trading behaviorThree "fines" were issued in a row, and the inside transactions of the five people involved were Hengyi Petrochemical.
Specifically, inside information is mainly related to Hengyi Petrochemical M & A in 2017.Since March 2017, Group Co., Ltd. (hereinafter referred to as "Hengyi Group") set up mergers and acquisitions funds. The assets of the chemical fiber industrys bankruptcy enterprise were acquired through the project company.Management and consulting services are provided by business activities. If the project company has the conditions for the acquisition of the listed company, Hengyi Petrochemical enjoys the right of priority to purchase.
The Securities Regulatory Commission determined that Hengyi Petrochemical issued shares to purchase 100%equity of Jiaxing Yapeng, 100%equity of Taicang Yifeng and 100%equity of Shuang Rabbit New Materials and supported fundraising funds and affiliated transactionsMatters belong to inside information.This inside information was formed not later than early October 2017, and it was disclosed on April 3, 2018.
After investigation by the Securities Regulatory Commission, in the period of sensitive information, Lu Changshui, Zhang Weiyang, Shao Linping, Miao Linghong, Chen Jianping, etc., were contacted by insider information, obtained or obtained or obtained or obtained it.Transfer inside information for Hengyi Petrochemical stock transactions.
Public information shows that Hengyi Petrochemical is one of the largest in the countrys largest textile raw material supplier. The company is headquartered in Xiaoshan, Hangzhou.Modern large -scale private enterprises produced by chemical fiber raw materials, the group ranked 244th in the 2023 "Fortune" World 500 list.
In order to further understand the insider trading case, the reporter of "Huaxia Times" contacted Hengyi Petrochemical Secretary Office on February 23. The relevant staff said: "It is not clear about the specific situation.At present, the companys production and operation activities are all normal and have not been affected. "
The actual controller" leaked "mergers and acquisitions information
Among the five cases involved, Chen Jianpings inside story was the highest. The cumulative purchase of Hengyi Petrochemical exceeded 5.2 million shares, with a transaction value of 128 million yuan, but the final loss exceeded 18 million yuan.Following Zhang Weiyang, he and the CEO class of the Yangtze River Business School of Lu Changshui. The two met at the class of classmates at the end of 2017 and discussed Hengyi Petrochemical.
The administrative penalty decision shows that Lu Changshui and Zhang Weiyang reached an agreement.Before Hengyi Petrochemical issued a suspension announcement, Zhang Weiyang Securities Account transferred to huge amounts of funds from December 19th to December 29th, 2017, and bought a large number of Hengyi Petrochemicals over 5 million shares, with a transaction amount of about 104 million yuan.The source is Zhang Weiyangs own funds.According to calculations, the amount of illegal income from Zhang Weiyang and Lu Changshui Inner Screen transactions was nearly 12.98 million yuan.
Why does Hengyi Petrochemical M & A message leak the wind?The administrative penalty decision pointed out that Lu Changshui obtained inside information through contact with insider Qiu Moulin and other contacts.Qiu Moulin is the chairman of Hengyi Group and the actual controller of Hengyi Petrochemical. He has a relative with Lu Changshui. He is Lu Changshuis church. Lu Changshui also worked in Hengyi Group.
However, in the end, the bamboo basket was empty, and all the five people involved were fined.The CSRC finally decided to confiscate that Lu Changshui and Zhang Weiyangs illegal income of about 12.98 million yuan, and imposed a fine of 12.98 million yuan; confiscated Miao Linghong and Shao Linpings husband and wife about 280,000 yuan, and imposed a fine of 280,000 yuan.Femant of 10,000 yuan.
InsiderThe director of the Bureau Li Ming said at the press conference that the maintenance of the market is "deceived", and the inside story transaction is essentially "stealing".Establish a "penetrating" clue screening system to accurately identify and severely crack down on the manipulation of the market and insider trading behavior.
Many people in the industry pointed out that supervision has severely cracking down on insider trading and other illegal acts, on the one hand, it is conducive to protecting investors, and on the other hand, it also purifies the bad atmosphere of the entire capital market.Maintain the capital market into a state of benign development.
Zhang Liwen said that only by multi -dimensional dimensions such as administrative punishment and criminal law punishment and continuously strengthening strikes and punishment can we effectively reduce the frequency and impact of violations of the securities market.
"Regulatory strictness plays a vital role in the quality improvement of listed companies and market ecological optimization."For listed companies, "strict supervision" can ensure that listed companies strictly abide by relevant regulations and specifications, disclose information in a timely, accurate and complete manner, reduce information asymmetry, and increase market transparency.
For the market ecology, "strict supervision" helps to create a fair, fair and transparent market environment.By increasing the supervision and punishment of market entities, it can effectively curb illegal behaviors such as manipulation of markets and insider transactions, and protect the legitimate rights and interests of small and medium investors.At the same time, "strict supervision" can also promote listed companies and intermediaries to pay more attention to risk management and internal control, thereby improving the overall risk prevention capacity of the market.
Responsible editor: Ma Xiao Chao Editor: Xia Shencha
