Jincheng Pharm(SZ:300233) Sou Hu Cai Jing·2025-12-23 02:56Core Viewpoint - The investigation into Jincheng Pharmaceutical's actual controller, Zhao Yeqing, concluded with his resignation on the same day the China Securities Regulatory Commission (CSRC) issued an administrative penalty for stock manipulation from 2017 to 2020 [1][2]. Summary by Relevant Sections Investigation and Penalty - Zhao Yeqing, the chairman and actual controller of Jincheng Pharmaceutical, was fined 1.5 million yuan and banned from the market for four years due to stock manipulation [2][8]. - The CSRC found that Zhao Yeqing, along with Wang Zhen and Liu Feng, manipulated the company's stock using 104 accounts over nearly 600 trading days, resulting in a loss of over 7.39 million yuan [4][8]. Manipulation Details - The manipulation involved a network of accounts that held an average of 18.58 million shares, representing 5.68% of the company's circulating shares, with a peak holding of 32.09 million shares, or 9.04% [6]. - During the manipulation period, the account group exhibited strong buying intentions, accounting for 17.29% of the market's buy orders and 23.02% of the market's trading volume, leading to a stock price increase of 21.30% compared to a 2.90% rise in the ChiNext Index [6][7]. Consequences and Company Response - The total trading volume during the manipulation was approximately 2.134 billion yuan for buying and 1.870 billion yuan for selling, culminating in a net loss of 739,200 yuan [8]. - Zhao Yeqing's resignation was announced on the same day as the penalty, and he will no longer hold any position within the company, although the administrative penalty only pertains to him personally and does not affect the company [9][10].