The Securities Regulatory Commission issued an administrative penalty decision, opened an investigation into Liu Xizhan's insider trading act, informed the parties concerned of the facts, reasons, and grounds for imposing the administrative penalty and the rights the parties concerned enjoyed in accordance with the law, held a hearing at the request of the parties, and listened to the statements and arguments of the parties concerned and their agents. The investigation and processing of this case has now been completed. On May 14, 2025, the relevant company issued a notice on planning to issue shares and pay cash to purchase assets and raise supporting capital and related transactions. This matter is a major incident stipulated in section 80 (2) (2), (3), and (9) of the “Securities Law”. Prior to disclosure, it was insider information as stipulated in Section 52 (2) of the Securities Law. This insider information was formed on October 18, 2024 and made public on May 14, 2025. Yoo Seok-jeon is a friend with an insider information insider. The two had numerous contacts during the period when insider information was sensitive. From November 4, 2024 to May 14, 2025, Liu Xi exclusively controlled the use of other people's securities accounts to buy shares of related companies, making a profit of 3,090,448.12 yuan. The time when Liu Seok bought shares of related companies during the sensitive period of insider information was highly consistent with the development process and disclosure time of insider information. The relevant transactions were clearly abnormal, and there was no justifiable reason or proper source of information. The Securities Regulatory Commission decided to confiscate Liu Xizhan's illegal proceeds of 3,090,448.12 yuan and fine 9,271,344.36 yuan.
Zhitongcaijing · 1d ago
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The Securities Regulatory Commission issued an administrative penalty decision, opened a case investigation into Liu Xizhan's insider trading practices, informed the parties concerned of the facts, reasons, and grounds for imposing the administrative penalty and the rights of the parties concerned in accordance with the law, held a hearing at the request of the parties, and listened to the statements and arguments of the parties concerned and their agents. The investigation and processing of this case has now been completed. On May 14, 2025, the relevant company issued a notice on planning to issue shares and pay cash to purchase assets and raise supporting capital and related transactions. This matter is a major incident stipulated in section 80 (2) (2), (3), and (9) of the “Securities Law”. Prior to disclosure, it was insider information as stipulated in Section 52 (2) of the Securities Law. This insider information was formed on October 18, 2024 and made public on May 14, 2025. Yoo Seok-jeon is a friend with an insider information insider. The two had numerous contacts during the period when insider information was sensitive. From November 4, 2024 to May 14, 2025, Liu Xi exclusively controlled the use of other people's securities accounts to buy shares of related companies, making a profit of 3,090,448.12 yuan. The time when Liu Seok bought shares of related companies during the sensitive period of insider information was highly consistent with the development process and disclosure time of insider information. The relevant transactions were clearly abnormal, and there were no valid reasons or proper sources of information. The Securities Regulatory Commission decided to confiscate Liu Xizhan's illegal proceeds of 3,090,448.12 yuan and fine 9,271,344.36 yuan.
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