Guizhou Zhenhua E-chem (SH:688707) Mei Ri Jing Ji Xin Wen·2025-12-09 15:19Core Viewpoint - A senior sponsor representative from a leading brokerage firm, Du Pengfei, faces severe legal consequences for allegedly engaging in "sudden shareholding" during the IPO project of Zhenhua New Materials, with the prosecution suggesting a prison sentence of 10 to 11 years for the crime of bribery, despite the involved amount being 4.1 million yuan [1][2][6]. Group 1: Case Details - Du Pengfei was the executive general manager of the investment banking business management committee at a top brokerage firm and had a notable career, having participated in several significant capital operation projects, including the IPOs of Zhenhua New Materials and others [2][3]. - The case has been widely discussed due to its dramatic nature, where the issuer, Zhenhua New Materials, allegedly initiated the request for Du to participate in a financing round through a familiar shareholder, leading to a hidden operation involving shareholding [4][5]. - The prosecution's recommendation for a heavy sentence reflects a clear signal of strict punishment for such actions, indicating a shift towards more severe legal repercussions for financial misconduct in the industry [2][6]. Group 2: Legal Implications - The prosecution's classification of Du's actions as "bribery" stems from the nature of the sponsor's role, which combines labor and official duties, allowing for the exploitation of position for personal gain [6][7]. - The case highlights a growing trend in the industry where penalties for financial misconduct are becoming increasingly severe, moving from administrative penalties to criminal accountability [7].