Chief of a Shanghai securities firm sentenced to prison for accepting a bribe of 180,000 RMB for writing research reports.

The China Judgments Online recently disclosed a criminal judgment. The Pudong New Area People's Court in Shanghai issued a first-instance judgment in a bribery case involving a securities analyst. Zou, the chief analyst of the electronic industry research institute of a certain company in the East, and Cheng, a senior analyst in the electronic industry, were convicted of the crime of accepting bribes as non-state functionaries. Zou was sentenced to ten months in prison with one year probation, and Cheng was sentenced to eight months in prison with one year probation. Both were also fined 100,000 yuan. The illegal gains of the two individuals were also confiscated by law. After the court trial, it was found that in April 2023, Zou and Cheng accepted a request from Song to write a research report for Jiangsu Litoon Electronics Co., Ltd. to increase the market attention to the company's stocks. During the process, Zou organized the writing of the research report and received 180,000 yuan in kickbacks from Song. Cheng facilitated communication between Zou and Song and was responsible for transferring cash to Zou, receiving 50,000 yuan in kickbacks personally.