Some shareholders of Haixin Foods (002702.SZ) mistakenly conducted short-term trading due to the error of their relatives and issued an apology.

19:52 23/09/2024

Hai Xin Food (002702.SZ) announced that the company recently received notice from shareholder and director Teng Yongwei, who owns more than 5% of the shares...

Haixin Foods (002702.SZ) announced that the company recently received a joint letter of apology regarding short-term trading from three shareholders who collectively own more than 5% of the shares: director Teng Yongwei, chairman Teng Yongzhuang, and director and general manager Teng Yongyan. It was revealed that Teng Guokang, the father of the three shareholders, engaged in stock trading on September 9, 2024, and September 13, 2024, due to a trading error. In addition, the announcement made by the company on September 20, 2024, regarding shareholders increasing their shareholding by more than 1%, showed that Teng Yongzhuang engaged in shareholding activities on September 18, 2024, and September 19, 2024, which together with Teng Guokang's trading error constituted short-term trading behavior. After investigation, it was found that the short-term trading behavior was caused by Teng Guokang accidentally trading through his account and Teng Yongzhuang increasing his shareholding. The three shareholders were unaware of their father's stock trading activities, and Teng Yongwei and Teng Yongyan were unaware of Teng Yongzhuang's shareholding actions. The three shareholders never informed their father about the company's operations or other insider information, and Guokang did not hold a position in the company or seek the opinions of the three shareholders regarding stock transactions. Guokang and Yongzhuang's trading errors and shareholding actions constituted short-term trading, but they did not have the subjective intention of engaging in such behavior for profit, nor did they use insider information for profit. Teng Yongwei, Teng Yongzhuang, Teng Yongyan, and Teng Guokang have acknowledged the seriousness of the violations and the adverse effects on the company and the market. They sincerely apologize to the investors and promise to study relevant laws and regulations carefully, regulate their own and their close relatives' stock trading behavior, consciously maintain the order of the securities market, and prevent such incidents from happening again.

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In April, both excavator and loader sales achieved rapid growth, closely following the industry's main trend of "internal and external resonance and simultaneous increase in volume and price."

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