Former executives in insider trading smile technology false statement this time can't laugh

The second-tier market shares a short-term surge in the collapse, behind the total possession of "wonderful" story. "Investment Times" reporter has only been informed that the recent news of the criminal detention of the former Dong, leading to the share price staged "roller coaster" of the Smile Technology (002617. SZ), there are many insider trading cases in its senior management, rather than the "cause is not known" in the Bulletin. April 29, Smile Technology issued a notice, April 26 received the police Department of Zhejiang province by the Investigation Corps, the Secretary of the Board of directors Cai Sheng suspected crime was criminal detention, "the present reason is not clear." There is a rumour that "or insider trading". "Investment Times" reporters from the internal sources learned that Cai Sheng was arrested for alleged insider trading, and the Department of Internal reports. According to the source said, "The investigation Corps in the criminal detention Cai Sheng, to their families, companies and the SFC have issued a notice, the notice clearly written Cai Sheng suspected insider trading was arrested." "And the detainees are not just Cai Sheng, there are two former executives, a former director Li Guo Thousand, a former director Xu Juying." "This is not a personal matter," according to one person close to the Zhejiang Securities and Futures Commission. "Or involved in the false statement of the science and technology director of the criminal detention, causing a high market attention. Then there is the media interview Smile Technology, the company only said that all the announcement, the incident and the company's business has nothing to do. Smile Technology Securities Representative Li Chentao in an interview with the investment times, insisted that "the notice received did not specify the reasons for the detention, we subsequently communicated with the investigation, but the investigation department did not give an answer." "Zhejiang yuan-bless law firm lawyer Shaobin told reporters," the police formal procedures to inform, and to clearly inform the criminal arrested for such a charge, but this is not the final conviction, so the Enterprise bulletin only said received police notice and said the reason for the criminal detention is not clear, may be deliberately avoided. "More clues show that the technology is not unaware of the truth. The above-mentioned sources told reporters that the criminal detention of the company's former director Li Guochi and Xu Juying (also deputy general manager), detained for the same reason suspected insider trading. "Mr. Li Guochi resigned as director of the company's second board of directors for personal reasons," according to Smile Technology July 4, 2013. Xu Juying, for personal health reasons, resigned from the company's second board of directors, and resigned as deputy general manager of the company, Mr. Li Guochi and Ms. Xu Juying no longer take up any position in the company. "The announcement shows that Li Guo thousand holds the 8.1 million shares of Smile Technology, Xu Juying holds 600,000 shares. The earlier prospectus showed that Li Guochi, the current chairman of Lu Xiaojun's wife Li Beiying's younger brother (Li Beiying, also a former director of the company, resigned on April 16, 2014), Xu Juying's sister Xu Ying had been partially owned by Li Beiying. It is understood that the current Xu Juying has been on bail, Li Guo thousand have been approved for arrest. The source said, "the director resigned after being caught, the enterprise does not need to be announced." However, Mr Yan, a prominent activist lawyer in Shanghai, said, "Even if the director is detained after the resignation, if it involves the company's business or interests, still need to announce." "The caseSub-Commission system has been investigated, and then forwarded to the public security investigation, the SFC's decision to punish the public security to make a decision before, this is not a personal crime. Those close to the Zhejiang Securities and Futures Commission said to reporters. In view of this, Mr Yan according to the above situation judgment thinks, the smile technology in the listed company Information disclosure Existence "The disclosure is not true" the question, specifically suspected "the false statement clause important omission". Under the relevant provisions of the Securities Act, the false statement of the securities market means that the information disclosure obligation violates the provisions of the securities law, makes false and misleading statements about the facts of the important events in the course of issuing or trading the securities, or acts as a material omission or improper disclosure of information when the information is disclosed. The false statement includes four types of false records, misleading statements, major omissions and improper disclosures. "A significant omission in a false statement", as Mr Yan, means "The Information disclosure obligation does not record in full or in part any of the matters that should be recorded in the Information disclosure document." "According to past cases, smile technology once was identified as" false statement ", or will be damaged shareholders of civil litigation. Stock price difference fixed increase suddenly stop according to the notice of Smile Technology, the company on April 26 has received the information of the investigation, but the announcement was issued on April 29, what happened these days? According to the company, it is "not at the end of the week," the statement is clearly somewhat far-fetched. The real "coincides" is that, on April 26, before and after the time node, smile technology in the stock price performance has been different. April 25, smile technology fell, market speculation that people familiar with the situation after the shipment. April 25 sold before the top five trading seats are: Hunan Financial securities Hangzhou Teachers Road Sales department, the East Wu Securities (market, inquiry) Suzhou Xiangcheng Lotus Road Sales Department, state Letter Securities Shanghai Beijing East Road Sales department, Hongyuan Securities (quotes, inquiry) Shanghai Pubei Road Sales Department and the Oriental Securities Hangzhou Longjing Road Sales department. The five sales departments, basically in Hangzhou or closer to Hangzhou, and the company headquarters is precisely in Zhejiang. Zhejiang Local capital of Hunan Financial securities Hangzhou Staff Road Securities Business Department in April 25, the urgent throw 48.5537 million yuan, April 28 again shipments of 11.2348 million yuan. But in the April 28 market slump in the case, the company's stock price is bucking the trend rose 9.18%, trading data show that the non-Zhejiang Department of Investment Securities (market, inquiry) and other two institutions dedicated seats to buy more than 50 million yuan to become a "sucker". "It is highly probable that the news was received early and that there was suspicion of insider trading," Mr Yan. "It also involves a sudden withdrawal of the company's application. April 2013, Smile Technology announced the number of Non-public shares of 93.5 million shares. But by May 5 this year, the company issued an announcement that "the withdrawal of the non-public offering of stock application documents", but the news did not cause too much in the market response, the same day smile Technology direct trading. Some securities analysts believe that "the market underestimated the withdrawal of the increase in the application will bring to the negative impact of smile technology." "At this point in time the suddenHowever, to make such a decision, it is necessary to remind people of "the Secretary of the criminal detention" of the news, the smile on the technical side of the answer is still very "official", "the reasons for the withdrawal has been written in the bulletin, and the Secretary of the criminal detention has no relationship." "Mr Yan that things are not so simple," if the SFC to intervene in the case, the non-public issue of shares believe it will be difficult to pass the CSRC's approval. "In the event of the Sapphire project, according to the source, the insider trading involving several former executives of the technology was related to the Sapphire project. Smile technology for nearly half a year since the cattle stocks, from the beginning of last December to the middle of April this year, the company's share price from about 9 yuan rose to about 26 yuan. Data show that March 31, 2014 temporary suspension of the smile technology on April 2 announced that April 1, the company and the Bonn Optical signed a cooperation agreement, due to dabble in the concept of sapphire let the company share price soaring. In the hot business progress of Sapphire, the company first denied two degrees, but eventually announced the relevant plan. December 2013 4, 5th, there is a market rumor that, smile Technology will invest 1.1 billion yuan into the Sapphire project, the company shares to receive two trading. December 6, the company issued a clarification announcement that the listed companies do not produce sapphire material business, the Internet crazy biography of the company's total investment of 1.1 billion yuan Sapphire project is inconsistent with the facts, but this failed to prevent the continued surge in share prices. December 16, Smile again issued a clarification announcement, the relationship between the Qing and Sapphire, the announcement led to a wave of changes in the share price, but the market on the company involved in the Sapphire project has been endless rumors, the company's share price began to climb in mid-January 2014. "Truth" finally appeared on April 2, 2014, Smile Technology issued a bulletin, said the company and the optical signed a cooperation agreement, jointly financed the establishment of Bernlou Smile Sapphire Co., Ltd., this rumor finally sit real, and the company's share price also appeared 5 consecutive trading. Some securities insiders pointed out that, under normal circumstances, involving the reorganization of listed companies, acquisitions and other major issues, listed companies will first disclose the notification, if not disclosed should also be confidential.