QITIAN Technology(SZ:300061) 券商中国·2025-09-06 06:39Core Viewpoint - The article discusses a case of insider trading involving an individual named Li, who profited from trading shares of Qitian Technology after overhearing confidential information about a stock issuance [1][4]. Summary by Sections Insider Trading Case - The Ningbo Securities Regulatory Bureau issued a penalty against Li for insider trading, where he used a relative's account to buy Qitian Technology shares, resulting in a profit of approximately 260,000 yuan from a transaction amounting to about 303,400 yuan [1][4]. Defense Arguments - Li claimed that he did not intentionally seek insider information but rather overheard a conversation about a potential collaboration between two individuals [2][5]. - He stated that the use of his relative's account was to help subsidize them through stock trading profits [2][6]. Investigation and Findings - The investigation confirmed that Li's actions violated securities laws, specifically regarding insider trading, as he acted on information that was not publicly disclosed until July 26, 2024 [3][4]. - Evidence included transaction records and testimonies, which supported the conclusion that Li's trading was based on insider information he overheard on April 15, 2024 [3][4]. Regulatory Decision - The Ningbo Securities Regulatory Bureau found the evidence sufficient to impose penalties, including the confiscation of illegal gains and a fine of 800,000 yuan [9]. - The calculation of illegal gains was deemed accurate, following the "last in, first out" method, which aligns with regulatory practices [8][9].