On December 3, Liaoning Energy issued an announcement on short-term transactions and apologies to the relatives of the company's executives, saying that the relatives of the company's deputy general manager had traded the company's stock multiple times within half a year, which constituted short-term transactions.

  The reporter of "Securities Daily" searched the relevant announcements of the exchange for statistics. In the first three days of December, 5 companies in the A-share market disclosed announcements about short-term transactions.

Since the beginning of this year, a total of 279 companies in the A-share market have had short-term transactions.

Precise transactions by relatives of executives

  Specifically, Li Yuchen, the son of Li Xiufeng, deputy general manager of Liaoning Energy, traded the company's stock nine times in the six months from April 28 to October 28 this year, making a profit of 11,837 yuan. Li Yuchen still holds 30,000 yuan in Liaoning Energy. share.

  Based on the calculation of Li Yuchen's three transactions that have been settled with profits, he bought 10,000 shares in each transaction and finally sold them. The longest holding period is 8 trading days, and the shortest holding period is only 1 trading day. towards earnings.

  It is worth noting that since April 21 this year, the stock price of Liaoning Energy has fallen continuously in a short period of time.

On April 27, Liaoning Energy disclosed an announcement on abnormal fluctuations in stock trading.

On April 28, Liaoning Energy hit a year-low price of 3.13 yuan per share.

On the same day, Li Yuchen bought 10,000 shares at a price of 3.25 yuan per share.

Coincidentally, on the evening of April 28, the 2022 first quarter report disclosed by Liaoning Energy showed that the company's first quarter performance increased by nearly 5 times year-on-year.

Affected by this news, since April 29, Liaoning Energy has experienced a daily limit for two consecutive trading days, and hit the daily limit again on May 6.

Li Yuchen sold all 10,000 shares at a price of 4.2 yuan per share on May 6, and made a profit of 9,537 yuan after holding the shares for 3 trading days, with a yield as high as 29.37%.

  In addition, on the evening of October 28th, Liaoning Energy disclosed a major asset reorganization suspension announcement. million shares.

  Liaoning Energy stated in the announcement that the short-term transaction was an independent investment behavior made by Li Yuchen based on the judgment of the secondary market. His father Li Xiufeng did not know about it, nor did he inform the company of the relevant business conditions.

This transaction is operated by Li Yuchen personally, and there is no purpose of using inside information to seek benefits.

Li Yuchen has voluntarily handed over all the proceeds from short-term trading to the company, and promised not to sell the company's stock within six months from the date of the last purchase.

Short-term trading happens from time to time

  Short-term trading behaviors in the market occur from time to time.

The reporter searched the relevant announcements of the exchange for statistics. In 2021, a total of 320 listed companies in the A-share market had short-term transactions.

Since 2022, as of December 3, a total of 279 companies have had short-term transactions.

  "Short-term transactions emerge in endlessly. In the final analysis, there is still a lack of awareness of compliance and a lack of awe of the market." Deng Zhidong, a director of the China CFO 100 Forum and a senior economist, said in an interview with a reporter from the Securities Daily.

  It is worth noting that although all companies have indicated that they will further strengthen training, publicity and learning after short-term transactions, there are still related parties in some companies that frequently make mistakes in the short term.

For example, after Qicai Chemical disclosed on January 22, 2021 that the company's then director and executive Wang Xianfeng's spouse had constituted a short-term transaction.

On September 6 this year, Qicai Chemical announced again that the company’s then independent director, Jin Zuopeng, and his wife bought and sold the company’s stock in early September this year, which once again constituted a short-term transaction.

  According to public announcements, a large number of short-term transactions occurred among the relatives of directors, supervisors and senior managers of listed companies, and "misoperation" and "not understanding the relevant rules" are often used to explain the two reasons .

Judging from the time of announcement disclosure, it is generally difficult for listed companies to discover and grasp the short-term trading behavior of relatives of directors, supervisors and senior managers in the first place.

In the announcement, most companies stated that the transactions were conducted by the relevant entities based on their own judgment based on public information, and that they were personal operations. There was no transaction due to knowledge of insider information, and there was no purpose of using insider information to seek benefits.

  A market participant who did not want to be named told the reporter that compared with Dong Jiangao of listed companies and important shareholders of the company, the relevant transactions of these relatives of Dong Jiangao are more difficult to be discovered.

These relatives generally do not voluntarily report transactions to listed companies.

Generally, it is when a listed company is operating major matters such as asset reorganization that it is necessary to check the previous transaction status before discovering the situation and disclosing it to the outside world.

  The aforementioned market participants told reporters that frequent short-term transactions not only disrupt the order of the securities market, but also bring adverse effects to related companies. Some short-term transactions using insider information will also damage the legitimate rights and interests of investors.

The special group of directors, supervisors and senior relatives of listed companies with high incidence of short-term transactions should strengthen their study of relevant laws and regulations and enhance their awareness of compliance.

"Mishandling" and "not understanding the rules" are not excuses for yourself.