Insider trading fined heavily: Changan Automobile employee profited 4 million yuan by using Huawei cooperation information, fined 16.69 million yuan

On May 22nd, the China Securities Small and Medium sized Investor Service Center (hereinafter referred to as the "Investment Service Center") disclosed relevant details about the "Han et al. insider trading case of Changan Automobile". According to the Investment Service Center, on November 26, 2023, Changan Automobile announced that it had signed an "Investment Memorandum" with a well-known technology company, and the two sides plan to carry out strategic cooperation in the field of intelligent vehicle business. Before the announcement was released, relevant information began to circulate on the internet, and insider information was suspected to have been leaked in advance. The regulatory authorities quickly responded and found that some securities accounts related to the two companies had suddenly purchased Changan Automobile, and the trading behavior was very suspicious. They immediately launched an investigation. After investigation, it was found that before the disclosure of the above-mentioned major matters, multiple employees of both parties - Han, Peng, Jie, Wei, and Wang - used insider information to buy a large amount of "Changan Automobile" stocks, with a total purchase amount of 61 million yuan and a profit of more than 4 million yuan. The China Securities Regulatory Commission has determined that the purchase of "Changan Automobile" stocks by Han and others before the disclosure of insider information constitutes insider trading. It has decided to confiscate Han and others' illegal gains, impose a total fine of 16.69 million yuan, and transfer relevant personnel's suspected criminal clues to the public security organs in accordance with the law. Han and Wei have fully paid the confiscated amount.