Individual Yang Xu disclosed insider information and was fined 500,000 yuan by the China Securities Regulatory Commission.

The China Securities Regulatory Commission (CSRC) has issued an administrative penalty decision, initiating an investigation into the case of Yang Xu leaking insider information. It was found that Yang Xu committed the following illegal acts: the company in question was planning a major asset restructuring, which was considered insider information before it was made public. The insider information was formed no later than December 27, 2023, and was made public on April 27, 2024. By no later than December 31, 2023, Yang Xu was aware of the aforementioned major asset restructuring events and progress. During the sensitive period of insider information, Yang Xu repeatedly informed relevant individuals about the asset restructuring events and progress. From February 28 to March 13, 2024, these individuals bought shares of the company in question. The CSRC has decided to impose a fine of 500,000 yuan on Yang Xu for leaking insider information.