Core Viewpoint - Blockchain technology is attempting to disrupt traditional stock markets, but the reality is more complex than the ideal scenario [1] Group 1: Tokenized Stocks - The launch of tokenized stocks has not gone smoothly, with significant price deviations from the underlying stocks since their introduction two weeks ago [2] - Tokenized stocks, referred to as "xStocks," were launched by Backed Finance in collaboration with Kraken and Bybit, targeting non-U.S. customers [5] - The price performance of tokenized stocks has been chaotic, with instances of extreme price surges, such as the AAPLX token reaching $236.72, a 12% premium over the actual stock price [3] Group 2: Regulatory Scrutiny - Robinhood is facing scrutiny from European regulators after launching a token that allows investors to bet on OpenAI without the company's permission [2] - The Bank of Lithuania has contacted Robinhood for explanations regarding the marketing of these tokens, which are linked to companies that are not publicly listed [5] - Concerns have been raised that tokenized stocks could become a means to circumvent regulations, as traditional stock markets have mechanisms to monitor and investigate suspicious activities [5] Group 3: Market Manipulation Concerns - Industry insiders worry that tokenized stocks create opportunities for insider trading and market manipulation, which are difficult to detect [2] - Backed Finance claims that public blockchain transactions are more transparent than traditional finance, potentially aiding in the monitoring of illegal activities [6] - However, other industry participants express concerns that trading tokenized stocks on anonymous platforms could lead to increased illegal activities, with one CEO describing it as a "Pandora's box" [6]

Core Viewpoint - The chairman of Jiaoda Anlian, Ji Min, revealed that former executives, including Yang Guoping, may be involved in illegal activities, leading to potential issues with information disclosure and internal controls within the company [2][11][19]. Group 1: "Purchase and Refund" Behavior - Jiaoda Anlian's "purchase and refund" behavior began in November 2022 when tax authorities requested a review of related matters, revealing inconsistencies between the number of insured and beneficiaries [3][9]. - In October 2016, Jiaoda Anlian invested 3.8 million yuan to purchase group insurance, with the insured being former executives, including Yang Guoping and Zhu Minjun [3][9]. - In April 2017, Yang Guoping signed for the refund as the legal representative of the insured unit, resulting in a total refund of 3.7924 million yuan to the personal accounts of five individuals, excluding beneficiary Ge Jianqiu [6][9]. Group 2: Internal Control and Disclosure Issues - Ji Min emphasized that Jiaoda Anlian has not disclosed the "purchase and refund" matters in any announcements, raising concerns about internal controls and information disclosure [11][12]. - The Shanghai Securities Regulatory Commission issued a warning to Jiaoda Anlian for violations, including inaccurate disclosures of executive compensation in annual reports for 2016 and 2018 [13][19]. - There is no record of the original documents related to the board and shareholder meetings approving the relevant proposals, raising questions about their legitimacy [16][18]. Group 3: Potential Conflicts of Interest - Ji Min indicated that the actions of former executives, particularly Ge Jianqiu, could reveal multiple capital operations that may involve conflicts of interest and insider trading [26][31]. - Jiaoda Anlian acquired a 22.97% stake in Tai Ling Pharmaceutical, with Ge Jianqiu serving as a non-executive director there, which raises suspicions of benefit transfer and insider trading [31][36]. - From October 2016 to January 2020, Jiaoda Anlian's investment in Tai Ling Pharmaceutical resulted in significant losses, with the stock price dropping over 80% during that period [36][38].

Core Viewpoint - Guangdong Huatie Tongda High-speed Equipment Co., Ltd. (hereinafter referred to as "Huatie Co.") has faced multiple administrative penalties from the Guangdong Securities Regulatory Bureau due to serious violations, including insider trading and financial fraud, leading to its delisting from the A-share market and subsequent transfer to the New Third Board [1][3][6]. Group 1: Administrative Penalties - On July 14, 2025, the Guangdong Securities Regulatory Bureau issued an administrative penalty decision against Huatie Co. and its related party Song Mouming for insider trading, resulting in a total fine of approximately 780,000 yuan [1][8]. - Huatie Co. has received a total of 15 administrative penalty decisions from the Guangdong Securities Regulatory Bureau, with fines totaling 8 million yuan for its actual controller, Xuan Ruiguo, due to multiple violations including false disclosures in annual reports from 2019 to 2022 [4][5]. - The company was found to have significant omissions in its financial reports, with non-operating fund occupation amounting to approximately 1.338 billion yuan as of December 31, 2022 [4]. Group 2: Insider Trading and Financial Misconduct - Huatie Co. was involved in insider trading activities, with Song Mouming selling 100,900 shares of Huatie Co. during a sensitive period, resulting in an estimated loss avoidance of approximately 179,888.87 yuan [7][8]. - The company faced severe scrutiny after its annual report audit revealed serious issues, leading to a 43.11% drop in stock price over 11 consecutive trading days [7]. - The internal control audit report issued by the auditing firm Dahuazheng confirmed the existence of serious fund occupation issues, which were not disclosed in a timely manner, further aggravating the company's regulatory challenges [7].

违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 来源：人民日报客户端 责编：汪云鹏 校对： 刘星莹 百万用户都在看 利好来袭！突然暴涨！ "牛市旗手"，重磅利好！业绩暴增超10倍，什么信号？ 见证历史！暴跌19.4%！ 事关降息！美联储，重磅传来！ 刚刚，突传利好！美国、欧盟，大消息！ 2025年7月14日，山东省青岛市中级人民法院一审公开宣判国务院国有资产监督管理委员会原副部长级干部骆 玉林受贿、内幕交易一案，对被告人骆玉林以受贿罪判处死刑，缓期二年执行，剥夺政治权利终身，并处没收 个人全部财产，在其死刑缓期执行二年期满依法减为无期徒刑后，终身监禁，不得减刑、假释；以内幕交易罪 判处有期徒刑六年，并处罚金人民币八百万元，决定执行死刑，缓期二年执行，剥夺政治权利终身，并处没收 个人全部财产，在其死刑缓期执行二年期满依法减为无期徒刑后，终身监禁，不得减刑、假释。追缴在案的骆 玉林犯罪所得财物及孳息依法上缴国库，不足部分继续追缴。 经审理查明：1997年至2023年，被告人骆玉林先后利用担任青海省国有资产管理局局长，原青海省经济贸易委 员会党委书记、主任，原青海省经济委员会党组 ...

山东省青岛市中级人民法院一审公开宣判国务院国有资产监督管理委员会原副部长级干部骆玉 林受贿、内幕交易一案，对被告人骆玉林以受贿罪判处死刑，缓期二年执行，剥夺政治权利终 身，并处没收个人全部财产，在其死刑缓期执行二年期满依法减为无期徒刑后，终身监禁，不 得减刑、假释；以内幕交易罪判处有期徒刑六年，并处罚金人民币八百万元，决定执行死刑， 缓期二年执行，剥夺政治权利终身，并处没收个人全部财产，在其死刑缓期执行二年期满依法 减为无期徒刑后，终身监禁，不得减刑、假释。追缴在案的骆玉林犯罪所得财物及孳息依法上 缴国库，不足部分继续追缴。 经审理查明：1997年至2023年，被告人骆玉林先后利用担任青海省国有资产管理局局长，原 青海省经济贸易委员会党委书记、主任，原青海省经济委员会党组书记、主任，青海省人民政 府党组成员、副省长，青海省委常委，青海省人民政府党组副书记，国务院国有重点大型企业 监事会主席，国务院国有资产监督管理委员会副部长级干部等职务上的便利以及职权、地位形 成的便利条件，为有关单位和个人在企业经营、项目承揽等事项上提供帮助，直接或通过他人 非法收受财物，共计折合人民币2.2亿余元。2013年至2014年， ...

Core Viewpoint - The article discusses the insider trading allegations against the actual controller of Yongjin Co., Ltd., Cao Peifeng, and the implications for the company following her legal troubles [3][5][9]. Group 1: Insider Trading Allegations - Cao Peifeng was placed under residential surveillance by the police on July 7, 2025, due to allegations of insider trading and leaking insider information [3][4]. - The China Securities Regulatory Commission (CSRC) has previously issued an administrative penalty against Cao Peifeng for her insider trading and short-term trading activities [4][9]. - The insider trading involved manipulating three other securities accounts to trade Yongjin Co., Ltd. shares during sensitive periods related to the company's stock buyback announcements [6][10]. Group 2: Financial Impact of Insider Trading - Cao Peifeng's insider trading activities resulted in a total loss of approximately 117,100 yuan (around 17,000 USD) across two rounds of trading [11]. - In the first round of insider trading, she made a profit of about 549,200 yuan (approximately 80,000 USD), while in the second round, she incurred a loss of about 666,300 yuan (approximately 98,000 USD) [11]. - The company announced two stock buyback plans, with the first plan involving a total amount of no less than 50 million yuan (approximately 7.2 million USD) and the second plan involving no less than 200 million yuan (approximately 28.8 million USD) [10]. Group 3: Company Background and Current Status - Yongjin Co., Ltd. was established in August 2003 and went public on the Shanghai Stock Exchange in December 2019, primarily engaged in the research, production, and sales of cold-rolled stainless steel strips [13]. - The company confirmed that the legal issues surrounding Cao Peifeng are personal matters and will not affect its daily operations, business, or financial status [5][14]. - The company is currently in the investigation stage, and the management remains in normal operation [14][15].

Core Viewpoint - The actual controller of Yongjin Co., Ltd., Cao Peifeng, is under criminal investigation for insider trading and has been granted bail pending trial, which may not affect the company's daily operations or financial status [2][3][4]. Company Overview - Yongjin Co., Ltd. was established in 2003 and is headquartered in Lanxi City, Zhejiang Province. The company primarily focuses on cold-rolled stainless steel and has diversified investments in various sectors, including titanium alloy materials and new energy battery shell materials [3]. - As of the end of Q1 2025, Cao Peifeng and her husband, former chairman Yu Jiqun, collectively hold approximately 43% of the company's shares [3]. Insider Trading Case - Cao Peifeng is facing criminal charges due to significant insider trading activities related to Yongjin Co., Ltd. The Zhejiang Securities Regulatory Bureau had previously imposed administrative penalties on her, totaling over 6 million yuan [2][6]. - The insider trading involved two transactions during sensitive periods, resulting in a profit of approximately 550,000 yuan and a loss of about 670,000 yuan [6][7]. - The total penalties imposed on Cao Peifeng amounted to approximately 640 million yuan, including the confiscation of illegal gains and fines [7]. Market Impact - Following the announcement of the investigation, Yongjin Co., Ltd.'s stock price fell by 2.39%, closing at 17.55 yuan per share, with a market capitalization of approximately 6.4 billion yuan [8].

Core Viewpoint - The actual controller of Yongjin Co., Cao Peifeng, has been placed under residential surveillance due to allegations of insider trading and leaking insider information, which the company claims will not affect its daily operations or financial status [2][4][6]. Group 1: Legal Issues - On July 8, Yongjin Co. announced that its actual controller, Cao Peifeng, was placed under residential surveillance by the Jinhua Public Security Bureau due to allegations of insider trading and leaking insider information [2][4]. - The residential surveillance period for Cao Peifeng is set to begin from July 7, 2025 [4]. - Cao Peifeng has previously faced penalties from the China Securities Regulatory Commission (CSRC) for insider trading and short-term trading, receiving a warning, a confiscation of illegal gains amounting to 549,200 yuan, and a fine of 5,845,800 yuan [8][9]. Group 2: Shareholding Structure - As of the end of the first quarter, Cao Peifeng is the second-largest shareholder of Yongjin Co., holding 70,913,394 shares, which accounts for 19.4% of the total share capital [9]. - The largest shareholder is Yu Jiqun, who holds 87,261,000 shares, representing 23.87% of the total share capital [10]. - The total market value of Yongjin Co. is reported to be 6.6 billion yuan, with a stock price of 17.98 yuan per share as of July 8 [11]. Group 3: Company Overview - Yongjin Co. specializes in the research, production, sales, and service of cold-rolled stainless steel strips, with products used in various industries including electronics, home appliances, medical devices, environmental chemicals, and automotive transportation [10].

Core Viewpoint - The actual controller of Yongjin Co., Ltd., Cao Peifeng, is under investigation for insider trading and has been placed under residential surveillance, which the company claims will not affect its daily operations or financial status [1][5]. Summary by Sections Insider Trading Allegations - Cao Peifeng has been involved in insider trading and short-term trading activities, manipulating three other securities accounts to trade Yongjin Co. stocks during sensitive periods, leading to a total loss of approximately 120,000 yuan [1][2][3]. - The China Securities Regulatory Commission (CSRC) has issued an administrative penalty against Cao Peifeng, including a warning, confiscation of illegal gains of about 550,000 yuan, and a fine of approximately 5.85 million yuan [2]. Company Operations and Financials - Yongjin Co. primarily engages in the research, production, and sales of cold-rolled stainless steel strips, with products covering both precision and wide cold-rolled stainless steel strips [3]. - The company announced two rounds of share buybacks, with the first round planned for a total amount between 50 million and 100 million yuan at a price not exceeding 43.43 yuan per share, and the second round planned for 200 million to 400 million yuan at a price not exceeding 34.2 yuan per share [2]. Shareholding Structure - As of the end of the first quarter of 2025, Cao Peifeng and her husband, the former chairman, collectively hold 43.27% of Yongjin Co.'s shares, with her sister also being a shareholder [4]. Current Status of Investigation - The company has stated that the investigation is still in the evidence collection phase, and the normal operations of the current chairman and board members are unaffected [5].

Core Viewpoint - The company conducted a self-examination regarding the trading activities of insiders and incentive recipients related to the 2025 stock option incentive plan, confirming no insider trading occurred prior to the public announcement of the plan [1][3]. Group 1: Examination Process - The self-examination covered the period from December 16, 2024, to June 16, 2025, focusing on stock trading activities of insiders and incentive recipients [1]. - The examination was based on information provided by the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, which issued relevant certificates and detailed lists of share changes [2]. Group 2: Trading Activities of Insiders - Six individuals were identified as having engaged in stock trading during the examination period, with two being incentive recipients [2]. - The Chairman and General Manager, Chen Xueming, purchased shares as part of a previously disclosed increase plan, unrelated to insider information regarding the incentive plan [2]. - Other trading activities by five individuals, including two incentive recipients, were based on publicly disclosed information and independent market judgment, with no insider information influencing their trades [2][3]. Group 3: Conclusion of the Examination - The company found no evidence of information leakage or insider trading related to the incentive plan prior to its public disclosure [3]. - The company adhered to strict confidentiality measures and regulations during the planning and discussion phases of the incentive plan [3].