[Introduction] Lu Keping, the actual controller of Sihuan Biotechnology , was convicted of insider trading and was sentenced to three years in prison and four years of probation, with 232 million yuan in illegal gains confiscated
China Fund News reporter Jiang You
A-share listed company Sihuan Biotechnology disclosed, The actual controller of the company, Lu Keping, was convicted of insider trading and was sentenced to three years in prison with four years of probation. The judgment stated that the 232 million yuan of illegal income involved in the case that was seized in accordance with the law will be confiscated. Sihuan Biotech stated that the illegal facts of Lu Keping’s insider trading have nothing to do with the company.
The actual controller of Sihuan Biotech was sentenced for insider trading
Illegal gains of 232 million yuan were confiscated
On the evening of November 5, Sihuan Biotech issued an announcement on the receipt of the criminal judgment of the actual controller. Sihuan Biology stated that the Taizhou Municipal People’s Procuratorate accused defendant Lu Keping of committing the crime of insider trading in Taizhou Criminal Indictment No. 3. Lu Keping was charged with this case on September 30, 2020, August 18, 2021, and 2023 respectively. They were released on bail pending trial on July 13.
According to the Taizhou Intermediate People’s Court (2023) Su 12 Criminal Judgment No. 10, the verdict is as follows:
Sihuan Biotech stated that the above-mentioned illegal facts of insider trading mainly involve Hairun Photovoltaic Technology Co., Ltd. and have nothing to do with the company. The actual controller Lu Keping currently does not hold the position of director, supervisor or senior executive in the company, and the above judgment will not affect the company's normal business operations.
It is worth noting that on the evening of October 21 this year, Sihuan Bio announced that it had received a notice on that day that the China Securities Regulatory Commission issued a "Notification of Case Filing" to the company's actual controller Lu Keping. Due to suspected violations of information disclosure, according to relevant laws According to regulations, the China Securities Regulatory Commission recently decided to file a case against it.
The company has suffered losses for many years
A large number of shares held by the actual controller will be auctioned
On the evening of November 4, Sihuan Biotech announced that the People's Court of Jiangyin City, Jiangsu Province will auction 286 million shares held by the company's shareholders Yu Qinfen, Wang Hongming and Chen Jianguo on Taobao. Public auction on the judicial auction network platform. The announcement shows that the shares held by the above three people are controlled by Lu Keping.
Sihuan Biology stated that as of the announcement date, the company’s actual controller Lu Keping held 318 million shares of the company, accounting for 30.85% of the company’s total share capital. If this judicial auction is finally completed, it may lead to a change in the company's control.
From a performance perspective, Sihuan Biology has continued to suffer losses since 2021. In the first three quarters of this year, the net profit attributed to the parent company once again lost 14.62 million yuan.
On November 5, Sihuan Biotech closed up 0.71% to 2.85 yuan, with a total market value of 2.9 billion yuan.
Editor: Captain
Review: Xu Wen
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