Core Points - The article outlines the regulations regarding insider trading and the responsibilities of individuals who possess insider information in the context of securities trading in China [2][3][4]. Group 1: Insider Information - Insider information is defined as any undisclosed information related to a company's operations, finances, or any information that could significantly impact the market price of its securities [4]. - Individuals who are considered insiders include company executives, major shareholders, and others who have access to confidential information due to their roles or relationships with the company [3][4]. Group 2: Disclosure Obligations - Companies must promptly report significant events that could affect their stock prices to the relevant regulatory authorities and make public announcements [5][7]. - Significant events include major changes in business strategy, substantial asset transactions, and any legal issues that could impact the company [6][8]. Group 3: Penalties for Insider Trading - Individuals who engage in insider trading or leak insider information face severe penalties, including fines and imprisonment, depending on the severity of the offense [11][14]. - The law stipulates that penalties can range from fines of 500,000 to 5 million yuan, or imprisonment for up to ten years for particularly severe cases [14][15]. Group 4: Legal Framework - The legal framework governing insider trading includes the Securities Law and the Criminal Law, which outline the definitions, responsibilities, and penalties associated with insider trading activities [13][24]. - The regulations emphasize the importance of maintaining market integrity and protecting investors from unfair practices [25][26].

Core Viewpoint - The legal opinion letter from Anhui Tianhe Law Office confirms that the stock trading activities of the incentive plan participant, Wang Nengyuan, occurred without knowledge of insider information related to the company's 2025 restricted stock incentive plan [1][3]. Group 1: Legal Opinion and Compliance - Anhui Tianhe Law Office was commissioned by the company to provide legal advice regarding the stock trading activities of the incentive plan participants [1]. - The law firm conducted thorough verification and confirmed that the facts stated in the legal opinion are true, accurate, and complete, ensuring no misleading statements or significant omissions [2]. Group 2: Stock Trading Activities - Wang Nengyuan engaged in stock trading activities during the self-examination period from January 14, 2025, to July 14, 2025, with a total of 3,200 shares traded and a remaining balance of 2,800 shares [2][3]. - The highest purchase price was 27.01 yuan per share, while the lowest was 18.18 yuan per share, with a total purchase amount of 124,605 yuan (excluding fees) [3]. - The highest selling price was 28.11 yuan per share, and the lowest was 21.22 yuan per share, indicating a range of trading prices during the period [3].