占款暴露前减仓避损，南卫股份实控人再受罚

Core Viewpoint - The article reveals that the actual controller of Nanwei Co., Ltd. and the former financial director engaged in insider trading by selling shares before the company faced significant financial scrutiny and stock price decline due to fund occupation issues [1][2][3]. Group 1: Insider Trading Details - The actual controller Li Ping and former financial director Xiang Qinhua sold a total of 4,796,780 yuan worth of shares between March 14 and March 28, 2023, just before the company disclosed negative audit opinions [2][4]. - Li Ping sold 8.184 million shares, while Xiang Qinhua sold 54,000 shares during the sensitive period, leading to significant financial gains before the stock price plummeted [4][5]. - Following the negative audit report, Nanwei's stock price dropped from 5.51 yuan to 4.26 yuan over five consecutive trading days, indicating a well-timed exit for both individuals [4][6]. Group 2: Regulatory Actions - The Jiangsu Securities Regulatory Bureau issued administrative penalties against Li Ping and Xiang Qinhua for insider trading, with Li Ping facing a fine of 35.33 million yuan and the confiscation of 11.77 million yuan in illegal gains [4][5]. - The penalties reflect a significant enforcement action, with the fines being close to the maximum allowed under the Securities Law, emphasizing the seriousness of the violations [5][6]. - The case serves as a reference for future enforcement of insider trading laws, clarifying that any information that significantly impacts stock prices and is not publicly disclosed can be classified as insider information [5][6]. Group 3: Financial Misconduct Background - The insider trading was rooted in the actual controller's occupation of company funds, which was uncovered during an audit by Tianheng Accounting Firm, revealing a total of 336 million yuan in non-operating fund occupation from March 2020 to December 2022 [2][6]. - The company had been using bank loans through intermediaries to transfer funds to related parties, leading to significant financial irregularities [6][7]. - As of September 24, 2023, Li Ping had pledged 73.54% of his shares, indicating a precarious financial situation for the actual controller [8][9].