Sou Hu Cai Jing·2025-11-03 07:20Core Viewpoint - The announcement reveals that Pan Weidong, an executive director of CSPC Pharmaceutical Group, has been penalized by the China Securities Regulatory Commission (CSRC) for insider trading related to a proposed acquisition of a subsidiary, which was later terminated due to market conditions [1][2]. Group 1: Regulatory Actions - Pan Weidong received an administrative penalty decision from the CSRC for insider trading, having purchased shares of CSPC Innovation before the public announcement of a significant acquisition [1]. - The CSRC found that Pan Weidong was aware of insider information by December 5, 2023, and subsequently bought 2,742,580 shares for approximately RMB 99.99 million between December 8 and December 20, 2023 [1]. - A fine of RMB 5 million was imposed on Pan Weidong, who also exhibited non-cooperation during the investigation [1]. Group 2: Transaction Details - The acquisition announcement was made on January 10, 2024, but the transaction was ultimately terminated on April 28, 2025, due to considerations of the pharmaceutical industry and capital market conditions [2]. - CSPC Pharmaceutical Group holds approximately 74.66% of CSPC Innovation's total share capital, including recent share purchases [2]. Group 3: Financial Performance - CSPC Innovation reported a revenue of RMB 1.59 billion for the first three quarters of the year, reflecting a year-on-year increase of 7.7% [3]. - The company recorded a net loss attributable to shareholders of RMB 24.05 million, which is a 117.3% improvement compared to the previous year [3]. - The adjusted net loss was RMB 64.82 million, showing a 147.4% decrease year-on-year [3].