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at a high school reunion, insider information of a listed company was leaked!

recently, the zhejiang securities regulatory bureau disclosed five administrative penalty decisions, making public the illegal insider trading of shengyang technology stocks by five people.

according to the disclosed details, ye shengyang, the son of the chairman of shengyang technology, as an insider of the inside information, suggested three high school classmates to buy and sell shengyang technology stocks during a dinner.in the end, all four people and the driver of one of the chairman were fined, with the total amount of fines and confiscations exceeding 23 million yuan.

chairman's son leaked secrets during dinner with high school classmates

the formation of insider information began on september 25, 2020. according to the zhejiang securities regulatory bureau, at that time, the then leader of the investment promotion bureau of yuecheng district, shaoxing city, sent information about the transportation and communication information group co., ltd. (hereinafter referred to as "jiaoxin group") to ye mouming, the chairman and actual controller of shengyang technology, via wechat, indicating that there was a cooperation project and pushing the contact information of the middleman.

on october 25, 2020, ye mouming and the then secretary of the board of directors of shengyang technologywu mouting, zhongtian guofu securities co., ltd.zhaogo to the shanghai office of jiaoxin fund andyangthey discussed the change of control of shengyang technology and asset integration, and the two sides maintained communication afterwards.

on november 19, 2020, wu mouting sent a "transaction structure description" via wechat to ye mouming's son, ye shengyang, who was then the general manager and director of shengyang technology, and sent a "communication situation 1119 on the list of materials involved in the acquirer's plan" to the wechat group of ye mouming, ye shengyang and the other three, which involved changes in shareholders' equity and subsequent business cooperation, and also conducted voice calls.

the zhejiang securities regulatory bureau stated that shengyang technology's purchase of 100% of beijing cccc's equity by issuing shares and paying cash was a major event under article 80, paragraph 2, item 2 of the securities law, "major investment behavior of the company" and item 9, "the company's plan to distribute dividends and increase capital". before being made public, it was insider information as defined in article 52 of the securities law.

in other words,this insider information was initially known by the chairman ye mouming, and later the secretary wu mouting also knew about it at least when communicating with relevant persons, and wu mouting passed the relevant documents to ye shengyang.

the zhejiang securities regulatory bureau pointed out thatye mouming, wu mouting, ye shengyang and others are insiders of the inside informationye mouming and wu mouting became aware of the incident no later than october 25, 2020, and ye shengyang became aware of the incident no later than november 19, 2020.

as things have progressed to this point, the three parties mentioned above may be considered to have only learned of the news due to work reasons.

on october 29, 2021, shengyang technology and jiaoxin group signed a "cooperation intention agreement", intending to purchase 100% of the equity of beijing cccc by issuing shares and paying cash.

on october 30, 2021, shengyang technology issued a "suspension announcement on planning major asset restructuring" regarding the aforementioned matter, disclosing that it is planning to purchase 100% of the equity of beijing zhongjiao held by jiaoxin group by issuing shares and paying cash. the company was suspended from trading on november 1 (monday) and resumed trading on november 15.

ye shengyang revealed the news at the class reunion

driver xu wei uses shell company to speculate in stocks

that is to say,the outside world did not know the above inside information until nearly a year later, on october 30, 2021. but before that, the news had been leaked by ye shengyang.

according to the zhejiang securities regulatory bureau, ye shengyang, shan tong, cao xiang and yuan haojie were high school classmates and had known each other for many years. the four of them set up a wechat group and often played basketball together.from the evening of may 4 to the early morning of may 5, 2021, ye shengyang, shan tong, cao xiang, and yuan haojie had dinner togetherye shengyang analyzed shengyang technology during dinner and told them that they could buy it now.it was up to them to decide whether to buy or not. afterwards, shan tong, cao xiang and yuan haojie all bought shares of shengyang technology.ye shengyang knew that shan tong and yuan haojie had bought shares of "shengyang technology" and had discussed account opening, transactions and earnings with shan tong on wechat.

in addition to ye shengyang's three high school classmates, ye mouming's driver xu wei also received the news in advance.

according to the zhejiang securities regulatory commission, xu wei has known ye mouming's family since childhood. during the period involved in the case, he was responsible for managing ye mouming's family affairs, served as ye mouming's driver, had frequent contact with ye mouming, and served as the manager of shengyang holdings from august 2018 to november 2021. ye mouming went to shanghai on october 25, 2020 to discuss with jiaoxin fund personnel, and went to shanghai on september 21, 2021 to communicate, all of which were driven by xu wei.

it was found that during the period of the case,xu wei controlled and used the securities accounts of "tang mouwen" and "zhou moujuan" (referred to as "xu wei account group") to trade the stocks of "shengyang technology"the decision on xu wei’s account group’s trading of “shengyang technology” stocks was made by xu wei, and the main source and destination of funds for the account group was xu wei.

it is worth noting that xu wei's account group has not traded "shengyang technology" stocks for a long time. however, during the sensitive period of insider information, xu wei's account group began to continuously buy "shengyang technology" stocks through the secondary market in november 2020, and only bought "shengyang technology" stocks. they basically bought all the "shengyang technology" stocks after temporarily transferring funds, and had a strong willingness to buy. xu wei failed to give a reasonable explanation for these obviously abnormal trading behaviors.

based on the above facts, the zhejiang securities regulatory bureau determined that the actions of ye shengyang, shan tong, cao xiang, yuan haojie and xu wei were all involved in insider trading.a total of 23.9234 million yuan in illegal gains were confiscated and fines were imposed.

a fine of rmb 2.5 million was imposed on ye shengyang for advising others to buy or sell shengyang technology shares before the inside information was disclosed.

confiscate the illegal gains of rmb 793,663.40 from shan tong and impose a fine of rmb 1,587,326.80;

confiscate the illegal gains of 446,153.21 yuan from cao xiang and impose a fine of 800,000 yuan;

confiscate the illegal gains of rmb 4,793,833.82 from yuan haojie and impose a fine of rmb 9,587,667.64;

the illegal gains of rmb 1,138,258.97 of xu wei’s property were confiscated and he was fined rmb 2,276,517.94.

the company's revenue increased but profits did not in the first half of the year

according to the official website of shengyang technology, the company was founded in 2003. its predecessor was zhejiang shengyang cable co., ltd. in 2010, it was restructured into zhejiang shengyang technology co., ltd. and listed on the shanghai stock exchange in 2015. the company's business mainly covers four major industrial fields: wired signal transmission, wireless signal transmission, integrated circuit display and communication base station construction. it has been rated as a national high-tech enterprise.

shengyang technology's net profit attributable to parent company in recent years (mid-year)/data source: wind

in terms of performance, shengyang technology's recently released 2024 semi-annual report shows that the company's operating income in the first half of the year was 357 million yuan, a year-on-year increase of 1.36%; the parent's profit was 5.1275 million yuan, a year-on-year decrease of 49.41%, mainly due to the decrease in the amount of government subsidies in this period and the decrease in exchange gains and interest income in this period.