On May 7, it was reported from the financial community that Li Chunan, the actual controller and chairman of Liancheng CNC, had been administratively punished by the China Securities Regulatory Commission and its dispatched agency Liaoning Supervision Bureau on suspicion of leaking insider information about the private placement of Shenzhen Shijin Technology Co., Ltd., and imposed a fine of 500,000 yuan on Li Chunan.
The company said that the subject of the administrative penalty is not Liancheng CNC Company, which will not have a significant adverse impact on the company's production, operation and finance, and there is no risk that the company will be terminated from listing due to this penalty. Liancheng CNC said that it will further improve the understanding of relevant responsible persons on inside information, strengthen the study of laws and regulations, and strictly abide by relevant requirements to fulfill the confidentiality obligations of inside information.
