Blue Ocean Strategy insider trading Tiantong shares fined 20.95 million, Su Sitong warned

According to the CSRC’s decision on administrative punishment ([2020] No. 102) recently released on the website of China Securities Regulatory Commission, Chengdu xinghuaxin chemical materials Co., Ltd. (58.2% of the shares held by Chengdu Yaguang), a holding subsidiary of Chengdu Yaguang Co., Ltd. (hereinafter referred to as “Chengdu Yaguang”), suffered a huge loss in December 2014. Chengdu Yaguang is facing a severe situation, and Chengdu xinghuaxin chemical materials Co., Ltd The municipal government, together with China Aviation Technology International Holding Co., Ltd., has decided to inject 600 million yuan into Chengdu Yaguang. < / P > < p > on December 30, 2015, three state-owned enterprises in Chengdu and Zhou, one of the natural person shareholders of Chengdu Yaguang, signed an agreement on capital increase and share expansion. During the capital increase, the above shareholders expressed their willingness to withdraw from the capital market by means of asset restructuring after Chengdu Yaguang divested xinhuaxin. On April 8, 2016, SASAC approved the capital increase and share expansion plan of Chengdu Yaguang. On April 13, 2016, Chengdu Yaguang completed the filing work of the Bureau of industry and Commerce after the capital increase. In May 2016, Chengdu yongheshun Trade Co., Ltd. (hereinafter referred to as Chengdu yongheshun) and Chengdu Third Industry Development Company (hereinafter referred to as Chengdu Third Industry Company) formed a bidding consortium to acquire 58.2% equity of xinhuaxin. Before and after the capital increase of Chengdu Yaguang, Zhou’s spouse Yang Yiwen began to look for a listed company with intention to cooperate. < / P > < p > from July 27, 2015 to April 27, 2016, under the coordination of Yang Mou Wen, he was pan Mou Qing, chairman, President and actual controller of Tiantong Holding Co., Ltd. (hereinafter referred to as “Tiantong shares”, 600330. SH), Liu Mou, managing director of Oriental Citigroup Securities Co., Ltd. (as of January 2016) and general manager of Haining Dongfanghong Investment Management Co., Ltd. (as of January 2016), At that time, Zheng Yibin, general manager of Tiantong New Environmental Technology Co., Ltd., a subsidiary of Tiantong Co., Ltd., and others went to Chengdu Yaguang for inspection and exchange for many times, but did not reveal the identity of Tiantong Co., Ltd. In the middle and late April, Chengdu yongheshun and Chengdu No.3 Industrial Co., Ltd. passed the resolution of the shareholders’ meeting to form a bidding consortium to transfer 58.2% equity of xinhuaxin. On May 3, 2016, Yang told pan by telephone that he could go to Chengdu to discuss the restructuring of Chengdu Yaguang. < / P > < p > on May 23, 2016, Tiantong shares temporarily suspended trading for one day. On May 24, 2016, Tiantong announced the suspension of major asset restructuring; on July 22, 2016, Tiantong announced the progress of major asset restructuring, saying that the potential transaction target of this major asset restructuring was Chengdu Yaguang; on October 22, 2016, Tiantong announced the resolution of the 20th session of the 6th board of directors, the major asset purchase plan and summary, and proposed to bid for 75.73% of Chengdu Yaguang in cash On November 3, 2016, Tiantong issued a notice on the termination of major asset restructuring; on November 7, 2016, Tiantong issued a suggestive announcement on the resumption of stock trading. < / P > < p > the operating revenue of the target company Chengdu Yaguang to be purchased in this transaction in the latest fiscal year is 2 billion yuan. The operating revenue corresponding to the 75.73% equity of Chengdu Yaguang accounts for more than 50% of the operating revenue of Tiantong’s audited consolidated financial accounting report in the same period, reaching the requirements of Article 12 of the administrative measures for major asset restructuring of listed companies According to the standard, Tiantong’s proposed cash bidding for 75.73% of the equity of Chengdu Yaguang constitutes a major asset restructuring of the listed company, which belongs to the insider information specified in Article 67, paragraph 2, item 2 of the securities law of 2005 and Article 75, paragraph 2, item 1 of the Securities Law of the people’s Republic of China. The formation time of the insider information shall not be later than May 3, 2016, Disclosed on July 22, 2016, Mr. Liu and Mr. Zheng are insiders of the inside information and know the inside information. < / P > < p > Su Sitong and Liu got to know each other due to work and other reasons. Later, they were partners of Haining Dongzheng blue ocean M & A investment partnership (limited partnership), and they got to know Zheng Yibin through Liu. In March, April and may 2016, susitong and Mr. Liu respectively communicated with each other for several times. After the formation of insider information, Su Sitong and Zheng Yibin, Liu exist through line points, Zheng Yibin’s main name is Su Sitong, through line points, Liu Yibin’s main name is Su Sitong, through line points, Zheng Yibin’s main name is Su Sitong, through line seconds. < / P > < p > “Blue Ocean No.7” is a private fund product registered with China Securities Investment Fund Industry Association. Beijing blue ocean strategy capital operation center (limited partnership) (hereinafter referred to as “Blue Ocean Strategy”) is a private securities investment fund manager registered with the association, and is the fund manager of “Blue Ocean No.7”. On May 9, 2016, the “Blue Ocean No.7” private fund opened an “Blue Ocean No.7” account in the securities business department of Zhongtai Securities Co., Ltd. in Beijing wanwanwanzhuang street, with a Shanghai shareholder account (shareholder Card No. b880 ×× 923) and a Shenzhen shareholder account (shareholder Card No. 089 ×× 064). The user is controlled by blue ocean strategy. The trading decision-maker of the “Blue Ocean 7” account is Su Sitong, the fund manager, and the trader is Wu. < / P > < p > “Blue Ocean No.7” account bought 2.6873 million shares of “Tiantong shares” on May 18, 2016, with a transaction amount of 32.4976 million yuan, accounting for 51.58% of the account capital scale, and sold all shares on November 9, 2016, the third day after the resumption of trading. After deducting transaction taxes, the “Blue Ocean 7” account made a profit of 5.2384 million yuan. < p > < p > the CSRC believes that the above-mentioned behavior of blue ocean strategy violates the provisions of Article 73 and paragraph 1 of Article 76 of the securities law of 2005, and constitutes the insider trading behavior described in article 202 of the securities law of 2005. According to the facts, nature, circumstances and degree of social harm of the party’s illegal behavior, and according to the provisions of article 202 of the securities law of 2005, China Securities Regulatory Commission decided: 1. Confiscate the illegal income of 5.2384 million yuan from insider trading of Beijing Blue Ocean Taolue capital operation center (Limited partnership), and impose a fine of 15.7153 million yuan (20.9537 million yuan in total); 2. Give a warning to Su Sitong , and a fine of 300000 yuan. < / P > < p > previously, according to the decision of China Securities Regulatory Commission on banning market entry ([2020] No. 20), for this insider trading, China Securities Regulatory Commission decided to ban Su Sitong from market entry for three years. From the date of announcement of the decision by China Securities Regulatory Commission, during the period of banning market entry, except for continuing to engage in securities business in the original organization or serving as the director, supervisor and senior manager of the original listed company and unlisted public company, China Securities Regulatory Commission decided to take measures against Su Sitong for three years In addition to the positions of management personnel, they shall not engage in securities business in any other organization or hold the positions of directors, supervisors or senior management personnel of other listed companies or unlisted public companies. < / P > < p > according to tianyancha app, Chengdu yaoptoelectronics Co., Ltd. was established and put into operation in 1965, formerly known as the state-owned Yaguang Electric General Factory, and is a state-owned second-class enterprise under the former Ministry of electronic industry. Since 1983, it has been transferred to Chengdu. It is the first batch of backbone enterprises to develop and produce microwave semiconductor devices and circuits in China. Chengdu Ya optoelectronics Co., Ltd. was established on September 28, 1998 and reorganized into a joint stock limited company in March 1999. Yaguang Technology Group Co., Ltd. is the largest shareholder, holding 97.38%. < / P > < p > the largest shareholder of Chengdu xinhuaxin chemical materials Co., Ltd. is Chengdu jianghailong Investment Co., Ltd., holding 41.80%. The largest shareholder of Beijing Blue Ocean Taolue capital operation center (limited partnership) is Ningbo Meishan bonded port Lanzhen Technology Development Co., Ltd., holding 80%. < / P > < p > according to the daily economic news, Beijing Blue Ocean Taolue capital operation center (limited partnership) is the former champion of private placement. Its product “Blue Ocean No.1” once won the champion of private placement performance with a yield of 180.92% in 2016. According to public information, blue ocean strategy was established on June 9, 2013, and registered with the fund industry association on June 5, 2015. Its legal representative and general manager are su Sitong, and Su Sitong is also the fund manager of “Blue Ocean No.1” products. It is understood that Su Sitong is a “post-80s” person. At that time, he was the chairman of China Blue Ocean Financial Holding Co., Ltd. and the chairman of the investment decision-making committee. He once worked in Beijing Urban Construction Group and new era securities. He was famous for his sharp moves and was known as “quick knife balang” by the market. < / P > < p > according to the official website of Tiantong, Tiantong Holding Co., Ltd. (securities code: 600330) was founded in 1984, with a number of holding companies and joint-stock companies. It is the first listed company controlled by a natural person in China and a national high-tech enterprise integrating scientific research, manufacturing and sales. After structural adjustment, Tiantong has formed four business sectors: electronic materials, electronic parts, intelligent equipment and industrial investment. < / P > < p > Mr. Zheng Yibin, general manager of Tiantong New Environmental Technology Co., Ltd., is Mr. Zheng Xiaobin, former general manager of Tiantong New Environmental Technology Co., Ltd., who left his post on June 21, 2016. Tiantong New Environmental Technology Co., Ltd. is a wholly-owned subsidiary of Tiantong Co., Ltd. < / P > < p > on October 22, 2016, Tiantong issued a major asset purchase plan, saying that the transaction was a cash bid for the equity of the target company by a listed company, and the counterparties were AVIC Shenzhen, Chengdu investment, Chengdu high investment and Chengdu venture capital, which jointly held 75.73% of the equity of the target company. AVIC Shenzhen, Chengdu Industrial Investment Co., Ltd., Chengdu high tech Investment Co., Ltd. and Chengdu Venture Capital Co., Ltd. are all the state-owned shareholders of the subject company. According to the relevant provisions on the transfer of state-owned assets, the transfer of the equity of the subject company held by the state-owned shareholders shall go through the listing and trading procedures of state-owned property rights. The listed company plans to follow the relevant procedures of the above-mentioned property rights exchange to participate in the bidding of 75.73% equity of the target company held by the above-mentioned state-owned shareholders. < / P > < p > on November 3, 2016, Tiantong issued an announcement on the termination of major asset restructuring. This transaction is for the company to bid for the equity of Chengdu yaphotoelectron Co., Ltd. by means of cash payment in the open market. On October 25, 2016, the company participated in the bidding of 45.29% state-owned equity of Chengdu yaphotoelectron Co., Ltd. through network bidding in southwest United Property Exchange. After several rounds of bidding, considering the long-term development of the company, the company stopped bidding, so the company failed to win this part of state-owned equity. Based on the long-term interests of the company, after careful study and the deliberation and approval of the 26th (Provisional) meeting of the 6th board of directors held on November 2, 2016, the company will no longer participate in the quotation of 30.43% state-owned equity of Chengdu yaphotoelectron Co., Ltd. and terminate this major asset restructuring. < p > < p > Article 67 of the securities law stipulates that when a major event occurs that may have a greater impact on the stock trading price of a listed company and the investors have not yet known about it, the listed company shall immediately submit an interim report on the major event to the securities regulatory body of the State Council and the stock exchange, and make an announcement, explaining the cause, current status and causes of the event Possible legal consequences. The following circumstances are the major events mentioned in the preceding paragraph: < / P > < p > (8) the situation of shareholders or actual controllers holding more than 5% of the company’s shares or controlling the company has changed greatly; < / P > < p > (11) the company is suspected of committing a crime and is put on file for investigation by the judicial organ; the company’s directors, supervisors and senior managers are suspected of committing a crime and are subject to compulsory measures by the judicial organ Article 73 of the securities law stipulates that insiders of insider information and those who illegally obtain insider information are prohibited from using insider information to engage in securities trading activities. According to Article 75 of the securities law of the people’s Republic of China, securities trading is an active business