The actual controller of Jincheng Pharm received a notice of administrative penalty in advance
Jincheng Pharm announced that its actual controller Zhao Yeqing received the "Notice of Administrative Penalty" from the China Securities Regulatory Commission, due to suspected manipulation of the securities market. Zhao Yeqing, Wang Zhen, and Liu Feng will each be fined 3 million yuan, with Zhao Yeqing bearing 1.5 million yuan and facing a 4-year market ban, while Wang Zhen faces a 3-year ban. Zhao Yeqing will apply for a hearing in accordance with the law
According to the Zhitong Finance APP, Jincheng Pharm (300233.SZ) announced that on September 30, 2025, the company received a notification from its actual controller and chairman, Mr. Zhao Yeqing, stating that he received the "Advance Notice of Administrative Penalty" (Penalty Document [2025] No. 69) reissued by the China Securities Regulatory Commission (CSRC). Zhao Yeqing, Wang Zhen, and Liu Feng are suspected of violating the provisions of Article 77, Paragraph 1, Items 1 and 3 of the 2005 Securities Law, constituting illegal acts of manipulating the securities market as described in Article 203 of the 2005 Securities Law. The proposed decisions in the "Notice" are as follows:
"1. According to Article 203 of the 2005 Securities Law, Zhao Yeqing, Wang Zhen, and Liu Feng are fined a total of 3 million yuan, with Zhao Yeqing bearing 1.5 million yuan, Wang Zhen 1.2 million yuan, and Liu Feng 300,000 yuan.
- According to Article 233 of the 2005 Securities Law and Article 3, Items 1, 7, and Article 5 of the "Regulations on Market Entry Bans" (CSRC Order No. 115), Zhao Yeqing will be subject to a 4-year market entry ban, and Wang Zhen will be subject to a 3-year market entry ban. From the date of the announcement of the decision, during the ban period, they shall not continue to engage in securities business at the original institution or hold positions as directors, supervisors, or senior management personnel in the original listed company or non-listed public company, nor shall they engage in securities business or hold positions as directors, supervisors, or senior management personnel in any other listed company or non-listed public company."
According to Articles 45, 63, and 64 of the Administrative Penalty Law of the People's Republic of China and relevant provisions of the "Hearing Rules for Administrative Penalties of the China Securities Regulatory Commission," Mr. Zhao Yeqing has the right to make statements, defend himself, and request a hearing regarding the proposed administrative penalties. The facts, reasons, and evidence he presents, if verified by the CSRC, will be accepted.
Regarding this proposed penalty matter, Mr. Zhao Yeqing will legally apply to the CSRC for a statement, defense, and request for a hearing
