Chi Yanming, the actual controller of doushen education, received the warning letter to reduce his holdings and now violated the rules

According to the decision on regulatory measures to issue warning letter to Chi Yanming (No. [2020] 186) released by Beijing regulatory bureau of China Securities Regulatory Commission yesterday, Chi Yanming, as the controlling shareholder, actual controller and chairman of doushen Education Technology (Beijing) Co., Ltd. (hereinafter referred to as “doushen education”, 300010. SZ), has been in the market for a long time from March 18, 2016 to October 13, 2020 Through passive dilution and active trading, the proportion of holding shares of the company decreased from 19.35% to 12.43%, with a cumulative decrease of 6.92%. < p > < p > chi Yanming didn’t stop buying and selling the company’s shares when the shareholding ratio decreased to 5%, and timely prepared and disclosed the equity change report, which violated the provisions of Article 13 of the administrative measures for the acquisition of listed companies. < p > < p > according to Article 75 of the administrative measures for the acquisition of listed companies, the Beijing regulatory bureau of China Securities Regulatory Commission (CSRC) has taken the administrative supervision measures of issuing a warning letter to Chi Yanming. < p > < p > Article 13 of the measures for the administration of the acquisition of listed companies: through the securities trading of the stock exchange, the shares owned by investors and their concerted actors reach the proportion of the issued shares of a listed company 5%, a report on the change of equity shall be prepared within three days from the date of the occurrence of the fact, a written report shall be submitted to the CSRC and the stock exchange, the listed company shall be notified, and an announcement shall be made; within the above period, the shares of the listed company shall not be traded again. After the above-mentioned investors and their persons acting in concert have the equity of 5% of the issued shares of a listed company, they shall make a report and announcement in accordance with the provisions of the preceding paragraph for every 5% increase or decrease in the proportion of their equity shares in the issued shares of the listed company through the securities trading of the stock exchange. During the reporting period and within two days after the report and announcement are made, the stock of the listed company shall not be traded again. < / P > < p > Article 75 of the administrative measures for the acquisition of listed companies: if the information disclosure obligors in the acquisition of listed companies and related share rights and interests change activities fail to perform the report, announcement and other related obligations in accordance with the provisions of these measures, the CSRC shall order them to make corrections, and take regulatory measures such as regulatory talks, issuing warning letters, ordering them to suspend or stop the acquisition. Before the correction, the relevant information disclosure obligors shall not exercise their voting rights on the shares they hold or actually control. < / P > < p > as the controlling shareholder, actual controller and chairman of doushen Education Technology (Beijing) Co., Ltd., from March 18, 2016 to October 13, 2020, due to passive dilution and active trading of the company’s shares, the proportion of shares held by you decreased from 19.35% to 12.43%, with a cumulative decrease of 6.92%. When your shareholding ratio is reduced to 5%, you do not stop trading the company’s shares and timely prepare and disclose the report on changes in equity, which violates the provisions of Article 13 of the administrative measures for the acquisition of listed companies. < / P > < p > according to Article 75 of the administrative measures for the acquisition of listed companies, our bureau takes administrative supervision measures to issue a warning letter to you. You must strictly abide by the laws and regulations of the capital market, earnestly fulfill the obligation of information disclosure, and put an end to illegal transactions. < / P > < p > if you are not satisfied with the supervision and management measures, you can apply for administrative reconsideration to China Securities Regulatory Commission within 60 days from the date of receiving this decision, or file a lawsuit to the people’s court with jurisdiction within 6 months from the date of receiving this decision. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. 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