明辉股份涉股权代持等多项违规被责令改正，董事长短线交易公司股票收警示函

Core Viewpoint - The Zhejiang Securities Regulatory Bureau issued a warning letter to the chairman of Minghui Co., Ltd., He Yunfeng, for engaging in short-term trading of the company's stock and identified multiple violations, including undisclosed share transfers and fund misappropriation [1][3][11]. Group 1: Short-term Trading Violations - He Yunfeng, as a major shareholder and chairman, conducted short-term trading using others' accounts, buying 3.0739 million shares from October 27 to November 11, 2022, and selling 1.4625 million shares from February 20 to March 7, 2023 [3]. - Further transactions included buying 95,800 shares from April 10 to July 4, 2023, and additional trades in 2024 and 2025, which also constituted short-term trading violations [3]. Group 2: Undisclosed Share Transfers - From March 2020 to May 2021, Minghui Co. and He Yunfeng signed a share transfer agreement to indirectly transfer approximately 15 million shares, representing 15% of the company's equity, without timely disclosure, potentially impacting stock prices and investor decisions [4]. Group 3: Shareholding Representation Issues - From October 2022 to May 2025, Yao Qiang traded shares on behalf of He Yunfeng, leading to unclear ownership of shares, which was not accurately disclosed in relevant documents [6]. Group 4: Fund Misappropriation - Between January and April 2021, the company paid a total of 9.38 million yuan to suppliers under the guise of prepayments, which were ultimately transferred to He Yunfeng, and this non-operational fund occupation was not disclosed as required [8]. Group 5: Undisclosed Special Investment Terms - The company failed to disclose special investment terms agreed upon with Hangzhou Xinbei Equity Investment Management Partnership, including performance commitments and compensation clauses, which were not accurately reflected in disclosure documents [9]. Group 6: Accountability - He Yunfeng, along with other key personnel, including the financial officer and former board secretaries, were held primarily responsible for the aforementioned violations and were subjected to corrective measures [5][10][11].