Individual Pan Weidong involved in insider trading losses, fined 5 million by the China Securities Regulatory Commission.

The China Securities Regulatory Commission issued an administrative penalty decision, and the CSRC initiated an investigation into insider trading behavior by Pan Weidong. On January 10, 2024, a related company issued an announcement about asset restructuring, which was considered insider information before the announcement. This insider information was formed no later than December 5, 2023, and was made public on January 10, 2024. Pan Weidong was aware of the insider information no later than December 5, 2023. From December 8 to 20, 2023, Pan Weidong used other people's related securities accounts to buy shares of the related company, resulting in losses. The aforementioned actions by Pan Weidong constitute insider trading. In addition, during the investigation, Pan Weidong was found to evade and refuse to cooperate with law enforcement inquiries. The CSRC decided to order Pan Weidong to dispose of the illegally held securities according to the law and imposed a fine of 5 million yuan on him.