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for suspected manipulation of the securities market, the csrc plans to impose a fine of 109 million yuan on tang xiuqing, the controlling shareholder, actual controller and chairman of haozhi mechanical and electrical, and a fine of 2 million yuan on xiao yonglin, the director, secretary of the board, deputy general manager and chief financial officer.

based on the closing price of 12.12 yuan of haozhi mechanical & electrical on september 23, the market value of haozhi mechanical & electrical shares held by tang xiuqing is approximately 1.051 billion yuan. the amount of the fine he was fined this time is approximately 10% of the market value of the haozhi mechanical & electrical shares he currently holds.

actual controller and chairman tang xiuqing was fined 109 million yuan

haozhi mechanical & electrical announced on the evening of september 23 that on september 23, the company received a notice from tang xiuqing and xiao yonglin, informing them that they had received the "preliminary notice of administrative penalty" from the china securities regulatory commission on the same day.

the main content of the "administrative penalty advance notice" is: tang xiuqing and xiao yonglin are suspected of violating the provisions of article 55, paragraph 1, items 1 and 3 of the securities law, constituting illegal acts of manipulating the securities market as described in article 192. based on the facts, nature, circumstances and degree of social harm of the parties' illegal acts, and in accordance with article 192 of the securities law, the csrc intends to decide: to impose a fine of 109 million yuan on tang xiuqing and a fine of 2 million yuan on xiao yonglin.

on september 30, 2021, haozhi mechanical and electrical disclosed the "announcement on the controlling shareholder and actual controller receiving the notice of case filing from the china securities regulatory commission". the company's controlling shareholder and actual controller tang xiuqing received the "notice of case filing" from the china securities regulatory commission. due to suspected manipulation of the securities market, in accordance with the "securities law", "administrative penalty law" and other laws and regulations, on september 26, 2021, the china securities regulatory commission decided to file a case against him.

on september 19, 2023, haozhi mechanical and electrical disclosed the "announcement on the company's directors receiving the notice of case filing from the china securities regulatory commission". the company's director, secretary of the board of directors, deputy general manager, and financial director xiao yonglin received the "notice of case filing" from the china securities regulatory commission. due to suspected manipulation of the securities market, in accordance with the "securities law", "administrative penalty law" and other laws and regulations, on august 25, 2023, the china securities regulatory commission decided to file a case against him.

the amount of the fine is approximately

10% of the market value of haozhi electromechanical co., ltd.

public information shows that tang xiuqing is 51 years old.

from december 2006 to april 2023, tang xiuqing served as vice chairman and general manager of haozhi mechanical and electrical.

in 2009, after acquiring 51% of the company's shares held by shenzhen daju cnc technology co., ltd., tang xiuqing became the controlling shareholder and actual controller of haozhi mechanical and electrical.

since april 2023, tang xiuqing has served as the chairman of haozhi mechanical and electrical.

currently, tang xiuqing holds 86.7268 million shares of haozhi electromechanical, accounting for 28.34% of the shares. based on the closing price of 12.12 yuan on september 23, the market value of his shares is about 1.051 billion yuan. the amount of money fined to tang xiuqing this time is about 10% of the market value of the shares of haozhi electromechanical he currently holds.

in recent years, haozhi mechanical & electrical's overall profitability has been poor, with a loss of 194 million yuan in 2023 and a net profit of 54.92 million yuan in the first half of 2024.

on september 23, haozhi mechanical & electrical's stock price closed at 12.12 yuan, with a market value of 3.71 billion yuan.