Tianshan Textile Major Reorganization Suspect Suspected Insider Trading

According to the reporter,

Tianshan textile 7 evening announcement said that the restructuring plan has been approved by the Xinjiang SASAC.

After the reorganization is completed, Tianshan textile (000813) will hold 75% of the west mining industry and become a non-ferrous mining enterprise.

On the 7 day, the stock market rose strongly.

In June 21st,

Katie, vice general manager of investment and Cao Ge, Katie's director of mining, bought 5000 shares in June 1, 2009 and sold 5000 shares in July 13, 2009.

Katie's investment supervisor Chen Yu's spouse Zhang Fa Peng bought 800 shares in June 11, 2009 and sold 800 shares in June 12, 2009.

Tao Jianyu, spouse of Tianshan textile director, bought 5000 shares in April 1, 2009 and sold 5000 shares in April 1, 2009.

Tang Guiying, mother of Li Yuan, Secretary of Tianshan textile board, sold 25500 shares in March 24, 2009.

Zhao Xiaohong, a supervisor of the state owned assets company, sold 3400 shares in March 11, 2009, and Zhu Xinhong, the supervisor of the company, bought 1200 shares in June 10, 2009, and sold 1200 shares in July 22, 2009; Zhang Yueqi bought 1200 shares in July 22, 2009.

Zuo Xueyi, deputy general manager of Xi Tuo mining, bought 8000 shares in June 3, 2009, bought 8000 shares in June 4, 2009, and sold 16000 shares in June 9, 2009.

Analysts believe that

In the six months before the suspension (from January 22, 2009 to July 23, 2009), there were trading practices and stock holdings.

Katie, vice general manager of investment and Katie mining director Cao Ge's mother, Cong Lihua, bought 5000 shares in June 1, 2009, sold 5000 shares in July 13, 2009, bought 15000 shares in July 21, 2009, and now holds 15000 shares of Tianshan textile shares.

Wang Jiong, the wife of Wei Dong, a Katie mining supervisor, bought 2000 shares in June 30, 2009, bought 200 shares in July 1, 2009, sold 2200 shares in July 6, 2009, bought 1000 shares in July 10, 2009, bought 1000 shares in July 13, 2009, bought 500 shares in July 15, 2009, bought 500 shares in July 13, 2009, and now holds 3000 shares in Tianshan textile shares.

Obviously, executives or their families involved in the restructuring are involved in stock trading.

Tianshan textile (000813) suspended from July 23, 2009, suspended for 11 months, announced the restructuring plan and resumed trading in June 18th, and 5 consecutive trading boards in June 24th, and the share price jumped from 6.57 yuan to 10.59 yuan.

Stimulated by the good news: the Central Committee held a working conference on the development of the western region, and Du Ying, vice chairman of the national development and Reform Commission, and vice president Liu Xinle of the Inner Mongolia Autonomous Region, introduced the main tasks, policies and measures to further promote the strategy of the western development in the State Council's new office. On the 8 day, the Tianshan textile stock once hit the limit of 11.47 yuan, although it closed at 10.07 yuan, but it has increased by 60% over the suspension.

Lawyer Song Yixin told the Securities Daily reporter: "similar things happened in recent years. As long as there are illegal clues, the SFC is obliged to take the initiative to investigate with its power.

What is the saying? Insider trading is a matter of insider dealing. The question is who is in charge and who is not necessarily related to relatives. "

According to the fifth provision of China's securities law, "issuing and trading activities of securities must abide by laws and administrative regulations, and prohibit fraud, insider trading and manipulation of the securities market."

Tao Yusheng, a senior partner of Dacheng Law Firm, told the Securities Daily reporter: "it is recognized as insider trading and related administrative penalties. The identification of insider information must have a significant impact on the price of securities trading according to the securities law, the" insider trading confirmation method "and the" market manipulation identification method "formulated by the securities and Futures Commission. It means that the information that has not been disclosed is used by insider information insiders during the open period, which is called insider trading.

It has three components: first, the insider is the main body of the implementation; two, the inside information is the information; three, the behavior is bought and sold within the price sensitive period of insider information, and the price is sold after the information is exposed.

Generally speaking, executives of listed companies know reorganization information.

The key is the subject, the actor is the insider, whether the object is the inside information, the form of expression is its own business, the sale of others, the disclosure of insider information, the three way, as long as one of them can be identified.

"But if the evidence is not conclusive enough to prove that it is a disclosure of insider trading, there is no way to calculate normal pactions.

Tianshan textile company self inspection is also a way.

Tianshan textile securities affairs representative said that the company expanded its scope of self-examination to further clarify the relevant situation and will continue to investigate itself in the future.

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Why is it that many listed companies are repeatedly involved in insider trading? Many people dare to test the law. Wong Kwong Yu, the richest man in the country, was in jail for being accused of insider trading.

Song Yixin lawyers think: "in recent years, frequent insider trading in listed companies is not only a matter of corporate governance, insider trading is illegal, but self-discipline and law-abiding are not enough.

At present, the law is not lacking, it is the low cost of the law. "

Xinjiang Katie Investment Co., Ltd. acquired the detailed report on the change of interest in Tianshan textile, which was issued by China National Securities Co., Ltd., but Zhang Yu, the national securities investment bank, avoided the interview.

Tianshan textile secretaries telephone has never been answered.