The chairman of the 100 billion lithium mining giant involved in insider trading tells the truth
"Buying Jiangte Motor during the negotiation of mergers and acquisitions", Jiangte Motor said it did not know
On the evening of July 3, Ganfeng Lithium (002460.SZ; 01772.HK) announced that the company was placed on file by the China Securities Regulatory Commission for suspected insider trading in the secondary market of an A-share listed company.
As soon as the announcement came out, on July 4, Ganfeng Lithium fell more than 7% at the opening, and then the decline weakened.
As of yesterday's close, Ganfeng Lithium closed at 110.33 yuan per share, down 1.41%, with a total market value of 222.4 billion yuan; Hong Kong stocks closed at 83.5 Hong Kong dollars per share, down 3.3%, with a total market value of 129.9 billion Hong Kong dollars.
It is understood that Li Liangbin, chairman of Ganfeng Lithium Industry, said that the purchase of the company's shares during the acquisition of Jiangte Motor (002176.SZ) was filed.
On the morning of July 4, the staff of the securities department of Jiangte Electric told the Red Star Capital Bureau that they were unaware of Ganfeng Lithium's purchase of the company's stock, and that the company's production and operation are currently normal.
Ganfeng Lithium Industry
Insider trading was filed
On July 3, Ganfeng Lithium Industry issued an announcement that the company received the "Notice of Filing a Case" from the China Securities Regulatory Commission on July 1. Due to suspected insider trading in the secondary market of a listed company's stock in A shares, the China Securities Regulatory Commission issued a notice on January 24 this year. Decided to file a case against the company.
Ganfeng Lithium stated that the above matters will not affect the normal production and operation activities of the company. The company will continue to pay attention to the progress of the above matters, actively cooperate with the relevant work of the China Securities Regulatory Commission, and perform information disclosure obligations in strict accordance with regulatory requirements.
According to the Daily Economic News, Li Liangbin, chairman of Ganfeng Lithium, said in an interview that the company was investigated by the China Securities Regulatory Commission, mainly because it purchased the shares of Jiangte Electric during the merger negotiation with Jiangte Electric.
Li Liangbin said that Ganfeng Lithium began to contact Jiangte Motor on June 18, 2020 to discuss mergers and acquisitions, and then purchased the shares of Jiangte Motor on June 23. At that time, Jiangte Motor had been "*ST", and that day *ST Jiangte closed at 1.62 yuan.
And in July issued a merger agreement announcement.
The Red Star Capital Bureau noticed that the announcement of the cooperation between Ganfeng Lithium and Jiangte Motor was released on August 19, 2020, mainly focusing on the lithium salt production line of Ganfeng Lithium.
However, the cooperation only lasted for two months. On October 28 of the same year, Ganfeng Lithium Industry stated that because the two parties could not reach an agreement on the technical transformation plan of the lithium salt production line, the two parties jointly decided to give up this cooperation and terminate the performance after careful consideration. the above cooperation agreement.
Li Liangbin said that Ganfeng Lithium has not held Jiangte Motor for a long time, only more than a month. As for the specific number of shares purchased, he does not know, and he needs to ask the secretary of the board of directors.
On July 4, the Red Star Capital Bureau called Ganfeng Lithium investors several times in this regard, but the line was always busy.
Li Liangbin said that the filing of the investigation may have an impact on the company's future refinancing and other aspects for about a year. "In this investigation, the company may be punished by some fines."
The Red Star Capital Bureau has learned that according to Article 191 of the new Securities Law, if a person with insider information on securities trading or a person who illegally obtains inside information engages in insider trading, it shall be ordered to deal with the illegally held securities and confiscate the illegally held securities. If there is no illegal income or the illegal income is less than 500,000 yuan, a fine of not less than 500,000 yuan but not more than 5 million yuan shall be imposed.
Jiangte Motor
"Uninformed about buying"
However, Jiangte Motor stated on the interactive platform that the company was investigated by the China Securities Regulatory Commission in December last year because of "suspected information disclosure violations" and has no relationship with Ganfeng Lithium; the company has not received any information about Ganfeng Lithium. The relevant information about the company’s case filed this time; the on-site investigation of the company’s case filed by the CSRC has been completed, and this matter will not affect the company’s production and operation, investment and construction, and “exploration and mining” work.
The Red Star Capital Bureau called the Jiangte Electromechanical Securities Department. The staff said that they were unaware of Ganfeng Lithium’s purchase of the company’s stock. It was Ganfeng Lithium’s own behavior. At present, the company’s production and operation are normal.
Chengdu Business Daily-Red Star News reporter Yu Yao Xie Yutong