On March 13, Zibo Qixiang Tengda Chemical Co.Ltd(002408) ( Zibo Qixiang Tengda Chemical Co.Ltd(002408) . SZ) announced that Qixiang group, the controlling shareholder, had recently received the notice in advance of administrative punishment (hereinafter referred to as the “notice”) issued by Shandong regulatory bureau of China Securities Regulatory Commission, which would result in Qixiang group being unable to directly transfer the equity of listed companies for six months. At present, Qixiang group and cedar industry are further negotiating with the acquirer on other plans for planning the change of control of the company. The trading of the company’s shares resumed from the opening of the market on March 14.
Previously, due to the planned change of control right, Zibo Qixiang Tengda Chemical Co.Ltd(002408) was temporarily suspended for no more than 2 trading days from March 7, and then the company continued to suspend for no more than 3 trading days on the 9th.
Now, due to the administrative punishment of Zibo Qixiang Tengda Chemical Co.Ltd(002408) controlling shareholders and relevant parties, the company has pressed the pause button for the planned equity transfer. All this starts with the fact that Qixiang group, the controlling shareholder of the company, was filed for investigation by the CSRC on suspicion of insider trading and other violations in November 2021.
According to the latest notice, from September 2, 2013 to November 27, 2015, and from April 29, 2014 to November 27, 2015, Qixiang group borrowed the accounts of “Zibo Jiusheng Chemical Co., Ltd.” and “Dandong Mingzhu special resin Co., Ltd.” to buy and sell nine stocks including ” Zibo Qixiang Tengda Chemical Co.Ltd(002408) ” Beijing Sojo Electric Co.Ltd(300444) “with a cumulative turnover of 403 million yuan; The cumulative transaction amount of “r-001” and “gc001” of securities lending repurchase and securities lending repurchase is 9.908 billion yuan; The cumulative transaction amount of “Qixiang convertible bonds” was 354716 million yuan; The cumulative transaction amount of “RONGTONG military industry” fund was 114231 million yuan. The above borrowing account transactions were decided by Che Chengju, the then legal representative, chairman and general manager of Qixiang group, and the funds came from Qixiang group. Shandong regulatory bureau of China Securities Regulatory Commission plans to give a warning to Qixiang group and impose a fine of 500000 yuan.
In addition, Qixiang group, Che Chengju and Zhou Hongxiu, as insiders of the company’s issuance of shares and payment of cash to purchase the equity of Shandong Qilu Keli Chemical Research Institute Co., Ltd., traded 390000 shares of ” Zibo Qixiang Tengda Chemical Co.Ltd(002408) ” through the “Zibo Jiusheng Chemical Co., Ltd.” account controlled by Qixiang group during the sensitive period of inside information. The above transactions were decided by Che Chengju and executed by Zhou Hongxiu, the then director, with a total profit of 2.5713 million yuan. Therefore, Shandong regulatory bureau of China Securities Regulatory Commission plans to confiscate 2.5713 million yuan of illegal income of Qixiang group and impose a fine of 7.7141 million yuan.
At the same time, Shandong regulatory bureau of China Securities Regulatory Commission plans to give a warning to Che Chengju and impose a fine of 200000 yuan; Zhou Hongxiu was given a warning and fined 150000 yuan.
