披露收购前华立股份和标的股票均大涨，须严查是否涉嫌内幕交易

Core Viewpoint - The announcement by Huali Co., Ltd. regarding the acquisition of a 19% stake in Shenghui Clean by its subsidiary for HKD 47.5 million has raised regulatory concerns due to unusual stock price movements prior to the announcement [1][4] Group 1: Stock Price Movements - Both Huali Co., Ltd. and Shenghui Clean experienced significant stock price increases before the acquisition announcement, with Huali hitting the daily limit and Shenghui rising by 26.19% [1] - The trading volume of Huali Co., Ltd. on the day of the announcement was HKD 385 million, while Shenghui Clean only recorded a trading volume of approximately HKD 16 million, indicating a "small amount driving a large amount" phenomenon [2] Group 2: Acquisition Pricing Concerns - The acquisition price represents a substantial discount of approximately 87% compared to Shenghui Clean's market value of HKD 393 million for the 19% stake, raising questions about the reasonableness of the pricing [3] - The acquisition price is below Shenghui Clean's historical lowest price and its net asset value per share, categorizing it as a "broken net" acquisition [3] Group 3: Regulatory Response - The regulatory authorities have requested Huali Co., Ltd. to disclose specific timelines and participant details related to the acquisition, as well as to conduct a self-examination of recent trading records of relevant parties to verify any potential insider information leaks [4] - The incident highlights a broader issue in the capital market regarding the perception of acquisitions as positive news, often leading to pre-announcement stock price movements that may indicate insider trading [3][4]