Wanli New Energy(SH:600847) 券商中国·2025-07-02 06:43Core Viewpoint - The article discusses the administrative penalty imposed by the Chongqing Securities Regulatory Bureau on Zheng for serious violations of securities laws, including failure to report significant shareholding changes and not issuing mandatory buyout offers when shareholding exceeded 30% [1][5]. Summary by Sections Violation Duration and Amount - Zheng's illegal activities spanned from July 7, 2016, to May 26, 2025, involving the control of 24 stock accounts to trade "Wanli Shares," with a total purchase of 163 million shares amounting to 3.17 billion yuan and total sales of 149 million shares amounting to 2.957 billion yuan [3][4]. Reporting Obligations - Zheng failed to disclose shareholding changes as required, with multiple instances of not reporting when his shareholding changed by 5% or 1%. He also did not issue a buyout offer when his holdings reached 30% [4][10]. Penalties Imposed - The Chongqing Securities Regulatory Bureau imposed a total fine of 42.5 million yuan on Zheng, which includes 32.5 million yuan for illegal transfer of securities, 5 million yuan for failure to disclose information, and 500,000 yuan for not issuing a buyout offer [2][6][9]. Market Ban - Zheng is subject to a three-year market ban from the date of the decision, prohibiting him from trading securities in any market [9][11]. Required Actions - Zheng is mandated to disclose a detailed equity change report within 10 days and is restricted from exercising voting rights on shares exceeding the allowed limit for 36 months [10].