CSRC Rules GANFENGLITHIUM Violated Insider Trading Rules, Fines RMB3.31M+

　　GANFENGLITHIUM (01772.HK) -0.500 (-3.113%) Short selling $14.40M; Ratio 23.398% announced that on 1 July, it received a Notice of Filing from the China Securities Regulatory Commission (CSRC), stating that due to suspected insider trading in the secondary market of the shares of a listed company in the A-share market, according to the Securities Law of the People's Republic of China and other laws and regulations, the CSRC decided to file a case against the company on 24 January 2022.

　　It is learnt that the CSRC decided to confiscate RMB1.1053 million of the unlawful proceeds of GANFENG and imposed a fine of RMB3.3158 million on the company. CSRC also issued a warning and imposed a fine of RMB600,000 on chairman Li Liangbin, and issued a warning and imposed a fine of RMB200,000 on the then secretary of the board Ouyang Ming.

　　GANFENG commented that as of 6 July, its production and operation are normal. The company said it will learn from the lesson to strengthen internal governance, strictly comply with the relevant laws and regulations, and comprehensively improve the level of compliance management and internal control, so as to avoid the recurrence of similar problems.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 16:25.)

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