On the evening of December 1, Zowee Technology announced that Xia Chuanwu, the controlling shareholder and actual controller of the company, was arrested by the Shenzhen Municipal Public Security Bureau on December 1, 2023 on suspicion of insider trading and market manipulation.
According to the announcement, Xia Chuanwu has resigned from the company's general manager and chairman in May 2018 and August 2018 respectively, and will not hold specific positions in the company after his resignation. At present, the production and operation of the company and its subsidiaries are operating normally, and various businesses are progressing steadily, and this matter will not have a significant impact on the company's daily production and operation activities.
Back to previous reports, as early as July 2021, Xia Chuanwu was punished by regulators for insider trading.
According to the announcement, Xia Chuanwu is the insider of the company's 2018 issuance of shares to purchase assets, and during the sensitive period of the company's proposed termination of the restructuring, he sold 11.55 million shares of Zowee Technology through block trading, selling funds of 1100 million yuan, accounting for 1 of the total share capital of Zowee Technology9919%。After calculation, Xia Chuanwu's loss avoidance amount was more than 2,130 yuan.
The China Securities Regulatory Commission determined that Xia Chuanwu's sale of Zowee Technology** was suspected of violating the provisions of the ** Law on insider trading. The China Securities Regulatory Commission plans to decide to confiscate more than 2,130 yuan of Xia Chuanwu's illegal gains and impose a fine of more than 2,130 yuan.
In addition, on suspicion of the crime of manipulating the market, Xia Chuanwu was arrested by the Ningbo Municipal Public Security Bureau on October 28, 2020, and all the shares of Zowee Technology held under his name were also judicially frozen by the Ningbo Municipal Public Security Bureau. The number of frozen shares is 9731720,000 shares, accounting for 1716%。
Founded in 2004 and listed on the Shenzhen Stock Exchange in March 2010, Zowee Technology specializes in the research and development, manufacturing and sales of 3C products such as communications, computers, and consumer electronics.
Zowee Technology's third quarter report for 2023 shows that the company achieved operating income of 13 in the first three quarters of this year8.7 billion yuan, down 087%, of which the operating income in the third quarter was 48.9 billion yuan, a year-on-year increase of 1667%。
As of December 1**, Zowee Technology's share price was 660 yuan shares, with a total market capitalization of 374.2 billion yuan.
*: Reading and Entrepreneurship Finance.
Editor: Wang Di.