Recently, due to the short-term trading of the company's stock by his parents, the chairman and general manager of Stellar Technology received a prior notice of administrative punishment from the Securities Regulatory Bureau, and the two were given warnings and will face a fine of 800,000 yuan respectively. In fact, in response to the short-term trading behavior of relatives, the directors, supervisors and senior executives involved in a number of listed companies were issued regulatory letters.
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The parents short-term trading the company's stocks was illegal, and the chairman and general manager of Stellar Technology were fined 800,000 yuan
On April 9, Henan Stellar Technology Co., Ltd. (stock abbreviation: Stellar Technology; Stock code: 002132. SZ) disclosed that it had received a prior notice of administrative punishment from the Henan Supervision Bureau of the China Securities Regulatory Commission, and the punishment was due to the illegal short-term trading of the company's shares by the parents of the chairman and general manager of the company.
According to the prior notice, Xie Moujun sold 26 million shares of "Stellar Technology" on August 28, 2023, with a cumulative turnover of 74.88 million yuan, and Jiao Moufen bought 3 million shares of "Stellar Technology" on September 7, 2023 and September 11, 2023, with a cumulative turnover of about 10.12 million yuan, constituting short-term trading violations.
Stellar Technology disclosed on September 16, 2023 that Jiao Moufen's transaction to increase his shareholding in the company did not generate income, and he promised not to reduce his direct holdings of the company's shares in any way within 12 months.
According to the announcement of Stellar Technology, Xie Moujun and Jiao Moufen are the parents of Xie Xiaobo, chairman of the company, and Xie Xiaolong, general manager. Xie Xiaobo has been a director of Stellar Technology since August 11, 2013 and the chairman of Stellar Technology since November 9, 2016. Xie Xiaolong has served as the director, vice chairman and general manager of Stellar Technology since November 7, 2019.
According to the disclosure, within six months after Xie Moujun sold the shares of "Stellar Technology", Jiao Moufen's purchase caused Xie Xiaobo and Xie Xiaolong brothers to constitute short-term trading violations under the Securities Law.
In November 2023, due to the short-term trading, the Xie brothers received a regulatory letter from the Shenzhen Stock Exchange and a warning letter from the Henan Securities Regulatory Bureau. Subsequently, on December 5, 2023, the two received the "Notice of Case Filing" issued by the China Securities Regulatory Commission, and the CSRC filed a case against Xie Xiaobo and Xie Xiaolong for suspected short-term trading of "Stellar Technology" stocks.
For the above-mentioned short-term trading violations, in the prior notice of administrative punishment, the Henan Supervision Bureau intends to give warnings to Xie Xiaobo and Xie Xiaolong, and impose a fine of 800,000 yuan each.
According to the data, Stellar Technology was listed on April 27, 2007, and the actual controller of the company is Xie Baojun. The company's business includes metal products segment and chemical segment. In terms of performance, affected by factors such as the macroeconomic environment and market changes, the company's organic silicon product prices will be sluggish in 2023, and factors such as the decline in the sales price of diamond wire products will affect the company's overall efficiency. The company expects to achieve a net profit attributable to shareholders of listed companies of 50 million yuan to 75 million yuan in 2023, a year-on-year decrease of 59.99% to 73.33%, and a net profit after deducting non-recurring gains and losses of 5 million yuan to 7.5 million yuan, a year-on-year decrease of 94.71% to 96.47%.
Short-term trading has led to the warnings of directors, supervisors and senior executives of many companies
It was found that in addition to Stellar Technology, in the A-share market, a number of companies have also recently disclosed short-term trading-related announcements, involving the relatives of the company's directors, supervisors and senior executives, and many of the company's executives have been issued warning letters.
Kelai Electromechanical Co., Ltd. (603960.HK) SH) disclosed on April 10 that He Xiaoyue, a supervisor of the company, received the "Decision on Issuing a Warning Letter to He Xiaoyue" issued by the Shanghai Securities Regulatory Bureau. According to the disclosure, the spouse of the supervisor bought 1,500 shares of the company's shares on January 26, 2024, and sold 2,000 shares of the company's shares on February 8, 2024, after the 3,000 shares of the company's restricted shares were lifted, with an interval of less than 6 months before and after the trading behavior, constituting short-term trading. Kelai Electromechanical said in the previous announcement that there is no short-term trading of the company's shares due to the acquisition of inside information, and there is no purpose of using inside information to seek benefits. The short-term trading income of 11,925 yuan obtained by the spouse of the supervisor has been handed over to the company.
In the secondary market, Kelai Electromechanical shares have closed at the limit price 14 times in 19 trading days since January 31, 2024, and on March 6, 2024, the company's shares hit the limit again. Kelai Electromechanical said in the stock trading risk warning announcement that the company has recently paid attention to rumors that the company will be listed as a new quality productivity concept stock. The concept of new qualitative productivity is broad and covers a wide range of areas. The company's existing main business is still intelligent equipment and auto parts, which belongs to the traditional manufacturing field, the company's related products have not changed, and the company's R&D investment in 2023 accounts for the proportion of the company's operating income is basically the same as that in 2022, and there is no significant difference with comparable listed companies in the same industry, and the possibility of some investors speculating on the company's shares with the help of related concepts is not ruled out.
On April 3, 2024, Sunshine Lighting (600261. SH) at the time, independent director Xue Yue received a warning letter from the Zhejiang Supervision Bureau of the China Securities Regulatory Commission. From May 29, 2023 to September 6, 2023, the spouse of the independent director bought a total of 27,500 shares of the company's shares with a transaction amount of 100,200 yuan, and sold a total of 27,500 shares of the company's shares from June 8, 2023 to October 17, 2023, with a transaction amount of 99,500 yuan. As a result of the above-mentioned short-term trading behavior, the independent director was taken the supervision and management measures of issuing a warning letter and recorded in the integrity file of the securities and futures market. The Zhejiang Regulatory Bureau requires them to strengthen the study of securities laws and regulations, strictly regulate the trading of shares of listed companies by themselves and their spouses, parents and children, and prevent the recurrence of such behaviors.
Henggong Precision(301261. SZ) disclosed on April 9 that Yang Yuxuan, the company's director, failed to urge his relatives to trade the company's shares in compliance and received a regulatory letter from the Shenzhen Stock Exchange. According to the announcement, on February 29 and March 4, 2024, the director's father bought a total of 1,700 shares of Henggong Precision Stocks, with a total amount of 74,856 yuan, and on March 4 and 5, he sold a total of 1,700 shares of Henggong Precision Stocks, with a total amount of 76,399 yuan. The interval between buying and selling is less than six months and constitutes a short-term transaction. The short-term trading income of 1,543 yuan has been handed over to the company.
In addition, Hongyuan Pharmaceutical (301246. SZ) disclosed on April 1 that the spouse of Dai Lina, a senior executive of the company, bought the company's shares on March 27, 2024, and sold the company's shares on March 28, 2024, constituting short-term trading. As of the disclosure date of this announcement, 12 yuan of the above-mentioned short-term trading income has been handed over to the company.
According to the disclosure, Hongyuan Pharmaceutical is mainly engaged in pharmaceutical and lithium battery materials, and the company expects the net profit attributable to shareholders of the parent company in 2023 to be 83 million yuan to 97 million yuan, a year-on-year decrease of 80.91% to 77.69%, and the non-net profit after deduction will be 35 million yuan to 49 million yuan, a decrease of 91.39% to 87.95% over the same period last year. During the reporting period, affected by factors such as the lower than expected growth rate of new energy downstream, the short-term imbalance between supply and demand in the industrial chain, and the sharp fluctuation of upstream raw material prices, although the company's lithium hexafluorophosphate production and sales volume increased sharply year-on-year, the product sales price fell sharply year-on-year and the decline was much greater than the decline in unit cost, resulting in a significant decline in the company's lithium hexafluorophosphate gross profit.
Holley Co., Ltd. (603038. SH) disclosed on April 4 that the daughter of Tan Quanzhi, the company's employee representative supervisor, bought the company's shares on March 1, 2024, and sold the company's shares on March 20, 2024. Since the disclosure date of the company's 2023 annual report is April 12, 2024, according to relevant regulations, the above-mentioned transactions constitute stock trading and short-term trading during the window period. According to the disclosure, the daughter of the supervisor generated a total of 1,190 yuan of income through the above transactions, which has been handed over to the company.