As the trading of convertible bonds in the window period constitutes a short-term transaction, the income of more than 80 million yuan, such as the chairman of “Zhumao” Muyuan Foods Co.Ltd(002714) chairman, was required to be turned over to the company.
Today, Muyuan Foods Co.Ltd(002714) announced that the company’s chairman Qin Yinglin and senior management Xu shaotao sold some or all of the company’s convertible corporate bonds on February 17 and February 15 respectively. The above transactions constitute short-term transactions. Qin Yinglin’s income from this short-term transaction is 868881 million yuan, and Qin Yinglin has handed over all the income to the company. Xu shaotao’s income from this short-term transaction is 69200 yuan, and Xu shaotao has handed over all the income to the company.
Article 44 of Chapter III of the securities law clearly states that if the directors, supervisors, senior managers and shareholders holding more than 5% of the company’s shares of a listed company violate the relevant provisions of the securities law and sell their own shares or other equity securities within 6 months after buying, or buy them again within 6 months after selling, the board of directors of the company shall recover their income, And timely disclose the illegal trading of relevant personnel, the amount of income, the treatment measures taken by the company and the specific situation of the company’s recovery of income, etc.
According to the provisions of the notice on the application of relevant provisions on short-term trading of convertible corporate bonds, convertible bonds belong to other securities with equity nature stipulated in the securities law, and the relevant provisions on short-term trading shall apply whether they enter the stock conversion period or not.
Qin Yinglin and Xu shaotao bought muyuan convertible bonds on August 25, 2021, and sold them on February 17, 2022 and February 15, 2022 respectively. The selling time after buying was less than 6 months.
It is worth mentioning that the total issuance scale of muyuan convertible bonds was 9.5 billion yuan, which was officially listed and traded on September 10, 2021. On March 14 this year, Muyuan Foods Co.Ltd(002714) announced that as of March 11, 2022, Qin Yinglin, the actual controller, had reduced about 182944 million “muyuan convertible bonds” through block transactions, accounting for 19.16% of the total issuance.
In fact, it is not uncommon for the company’s executives to form short-term transactions due to buying and selling convertible bonds this year. Before Muyuan Foods Co.Ltd(002714) , Ningbo Kbe Electrical Technology Co.Ltd(300863) and Hangcha Group Co.Ltd(603298) all the income of convertible bonds from short-term transactions of executives were handed over.
Ningbo Kbe Electrical Technology Co.Ltd(300863) 2022 announced on March 23 that the company’s director Jiang Zhenhua sold the company’s convertible corporate bonds “Kabei convertible bonds” on March 22, 2022, which constituted a short-term transaction. Mr. Jiang Zhenhua’s income from this short-term transaction is 698745 yuan, and all the profits have been handed over to the company.
Hangcha Group Co.Ltd(603298) 2022 announced on January 5 that when Mr. Jin Zhihao, the chief designer of the company, traded Hangcha convertible bonds on January 4, 2022, due to operational errors, he changed the selling operation into buying and mistakenly bought 160 Hangcha convertible bonds, forming a short-term transaction. The total income was 27.20 yuan, all of which were handed over to the company.
