Panda Fireworks Chairman fined for violation

Xinhua News (reporter Wangcheng) yesterday, Panda Fireworks Bulletin said, because of the disclosure of information, the company's major shareholders Guangzhou Galaxy International Investment Limited ("Guangzhou Galaxy") was fined 300,000 Yuan, chairman Zhao Weiping for information disclosure problems and short-term transactions were sentenced to 100,000 yuan and 50,000 yuan punishment. The SFC issued the "Administrative Penalty decision book", January 20, 2006, the Liuyang Finance Bureau will hold Liuyang fireworks 20 million shares for auction, Guangzhou climb Tatsu (Guangzhou Galaxy predecessor) through the auction way, get Liuyang fireworks 10 million, natural Kindi, Wu Niuhua also bought 5 million shares, and gold, Wu both hold the shares are controlled by Guangzhou, but no announcement of the Guangzhou climb Tatsu; May 11, 2006, the Liuyang Finance Bureau to the Guangzhou Liuyang Fireworks transfer of 28.32% of the shares, also did not announce the disclosure of the issue of concerted action, the two acts have violated the Securities Act.　　Accordingly, Guangzhou Galaxy was fined 300,000 yuan, Zhao Weiping is directly responsible for the officer, was fined 100,000 yuan.　　In addition, Zhao Weiping from 2005 to 2007, the use of other securities accounts of the company's shares of short-term trading, give warning, and fined 50,000 yuan. Yesterday, the Panda Fireworks Securities ministry said that the company received the SFC the day before yesterday the penalty notice, as for the chairman and the large shareholder's fine when handed over, currently has not been the relevant parties.