Rayco Defense (002413.SZ) announced that company director Wu Handong recently received Jiang from the China Securities Regulatory Commission...
According to the Zhitong Finance App, Rayco Defense (002413.SZ) announced that company director Wu Handong recently received the “Advance Notice of Administrative Punishment” issued by the China Securities Regulatory Commission and the Jiangsu Regulatory Bureau.
According to the announcement, Wu Handong has been the director of Rayco's defense since October 14, 2021. Wei Muhua is Wu Handong's spouse, and Wu Handong is Wu Handong and Wei Muhua's son. Wu operated a securities account opened by Wei Muhua at CITIC Construction Investment Securities Co., Ltd. and sold “Rayco Defense” several times on September 20, September 21, and September 22, 2022. It sold a total of 4.274,200 shares, with a cumulative sales amount of 21.8752 million yuan. It also bought “Rayco Defense” several times on September 23, 2022, and purchased a total of 1,474,200 shares, with a cumulative purchase amount of 7,5192 million yuan.
During Wu Handong's tenure as Rayco Defense Director, Wu Handong's son, operated his spouse Wei Muhua's securities account and bought “Rayco Defense” within six months of selling “Rayco Defense,” which led Wu Handong to be suspected of violating the provisions of section 44 (1) and (2) of the Securities Law, constituting an illegal act of short-term trading as described in section 189 of the Securities Law. The Jiangsu Securities Regulatory Bureau plans to decide to warn Wu Handong and impose a fine of 250,000 yuan.