On March 1, Zhejiang Founder Motor Co.Ltd(002196) announced that it had received the notification letter issued by shareholder Zhang Min and learned that Zhang Min had received the decision on Issuing warning letter against Zhang Min issued by Zhejiang regulatory bureau of China Securities Regulatory Commission on February 28.
The warning letter pointed out that as a shareholder holding more than 5% of Zhejiang Zhejiang Founder Motor Co.Ltd(002196) joint stock company, Zhang Min sold 4.9827 million shares of the company on January 14, with a transaction amount of 620537 million yuan, and bought 352400 shares of the company on the same day, with a transaction amount of 4.4226 million yuan.
The warning letter holds that the above-mentioned behavior of buying and selling the company’s shares within six months constitutes short-term trading and violates the provisions of Article 44 of the securities law of the people’s Republic of China. Zhejiang securities regulatory bureau decided to take the supervision and management measures of issuing warning letters and record them in the integrity archives of the securities and futures market.
