Zitong Financial App News, Fuchun shares (300299.SZ) issued an announcement that the company received the China Securities Regulatory Commission's "advance notice of Administrative punishment and Market ban" provided by Fujian Fuchun Investment Co., Ltd., the company's controlling shareholder, and Miao Pinzhang, the actual controller.

It is reported that in September 2020, Fuchun shares disclosed the relevant announcement of issuing shares to purchase assets and raising supporting funds, the company began to plan to issue shares to buy no less than 70.85% shares of Guangdong Alchuang Communication Technology Co., Ltd. (hereinafter referred to as "Alchuang"), and raise supporting funds at the same time. In January 2021, Fuchun shares issued a "notice on terminating the issue of shares to purchase assets and raising supporting funds" on the termination of the merger and acquisition of Alchuang. The matters involved in the announcement of terminating the issuance of shares to purchase assets and raising matching funds are the major progress of major investments and major events in the company as stipulated in paragraph 2, paragraph 2 and paragraph 9 of Article 80 of the Securities Law, in accordance with Article 52 of the Securities Law, it is inside information before it is made public. Inside information will be formed no later than December 15, 2020 and will be made public on January 8, 2021.

According to the first paragraph (2) of Article 51 of the Securities Law, Fuchun Investment, as the controlling shareholder of Fuchun shares, and Miao Pinzhang, as the then chairman and actual controller of Fuchun shares, are all legal inside information insiders. At the same time, as the then chairman and actual controller of Fuchun shares, Miao Pinzhang is the decision-making, organization and participant in Fuchun shares' planning and acquisition of Alchuang, and belongs to the core personnel who influence the formation and development of inside information. he should know the inside information of this case no later than December 15, 2020.

During the insider information sensitive period, according to Miao Pinzhang's decision, the "Fuchun Investment" account sold 8660000 shares through bulk trading on December 22, 2020 at a transaction price of 6.59 yuan per share, and sold 500000 shares at a transaction price of 6.50 yuan per share on December 29, 2020. a total of 9160000 shares were sold, with a total selling amount of 60334400 yuan. Miao Pinzhang controls the use of the "Miao Pinzhang" account to sell 4664500 shares through bulk trading on December 29, 2020, with a transaction price of 6.53 yuan per share and a transaction value of 30459185 yuan. After calculation, there is no illegal income from the above-mentioned loss-avoiding transactions in the accounts of "Fuchun Investment" and "Miao Pinzhang".

The CSRC believes that the above-mentioned acts of Fuchun Investment and Miao Pinzhang violate the provisions of articles 50 and 53 of the Securities Law and constitute insider trading as mentioned in Article 191 of the Securities Law. The China Securities Regulatory Commission decided: (1) in accordance with Article 191 of the Securities Law, a fine of 5 million yuan was imposed on Fujian Fuchun Investment Co., Ltd. on insider trading, and a fine of 2 million yuan on Miao Pinzhang, who was directly in charge. Miao Pinzhang was fined 4.5 million yuan for insider trading. (2) in accordance with Article 221 of the Securities Law (Securities Regulatory Commission order No. 115), subparagraphs 1, 2, and 4 and 5 of Article 3, Miao Pingzhang shall be banned from the market for five years, starting from the date of the announcement of the decision by the China Securities Regulatory Commission, during the prohibited period. Except that he may not continue to engage in securities business in the original institution or hold the posts of director, supervisor or senior manager of the former listed company or unlisted public company, nor shall he engage in securities business in any other institution or serve as a director or supervisor of any other listed company or non-listed public company.