Home Business It is rumored that the former chief strategist of Zhongtai Securities was arrested for involving Huawei concept stocks | Insider trading | Hype

It is rumored that the former chief strategist of Zhongtai Securities was arrested for involving Huawei concept stocks | Insider trading | Hype

by admin

[Epoch Times, January 18, 2022](Comprehensive report by The Epoch Times reporter Liu Yi) On January 17, it was rumored in the mainland industry that Chen Long, the former chief strategist of Zhongtai Securities, lost contact and was arrested. It was quickly spread in the media network, and it was caught involving the A-share listed company Xiaokang Shares, which is a concept stock of Huawei’s car manufacturing.

Phoenix Finance’s “Eye of the Storm” and “Daily Economic News” and other media reported the news on the 18th.

The “Eye of the Storm” report quoted netizens as saying: “The chief executive of a securities firm, the general manager of a securities firm’s public fund quantification, and the relevant core employees of a large state-owned factory that has just announced the manufacture of cars, because of insider trading, jointly hyped to help you (hot money) I took the order, went in, and a small group of 20 people was caught.”

According to the report, some netizens replied, “HUAWEI (Huawei), Zhongtai, China Everbright,” in the comment section under the exposure. Build car concept stocks for Huawei.

An insider revealed that first two Huawei employees were arrested, and then relevant departments followed suit and arrested more than 20 people. Chen Long, the former chief strategist of Zhongtai Securities, is rumored to have been “locked in”. The general manager of Guangbao Quantitative Department, who received the hot money, is also being investigated.

The “Daily Economic News” reporter learned from people familiar with the matter that some time ago, a policeman came to the company’s office to find him, and then Chen Long resigned. A person from Zhongtai Securities responded to the “Daily Economic News” that Chen Long had resigned from the company on November 12 last year; the company was unaware of the information about Chen Long reported on the Internet.

“Daily Economic News” quoted the source as saying: “This is a small group of more than 20 people, all of them are caught, and they speculate on the stock of Huawei’s car-making stock, Xiaokang.”

The latest information from the Securities Association of China shows that Chen Long’s resignation registration date is November 15, 2021, which is more consistent with the above-mentioned exposure time.

According to the official website of the Securities Association of China, Chen Long’s previous practice certificate number information in Zhongtai Securities no longer exists. Industry insiders said that this means that the certificate holder is not practicing in any securities firm, and its securities practice certificate may have been cancelled.

Chen Long was previously the chief strategy analyst of Zhongtai Securities. He graduated from Peking University with a master’s degree in economics and a bachelor’s degree in management. He has 10 years of experience in the securities industry and joined Zhongtai Securities in March 2019.

Another former Prudential Quantitative Director of Everbright, Jin Fangyi, who was rumored to be under investigation, responded to the media on the evening of January 17, saying: “My work and life are all normal, thank you for your concern.”

On November 19, 2021, a number of funds including Everbright-Prudential China Securities 500 Index Enhancement and Everbright Jinhong Hybrid announced that Jin Fangyi will leave office on November 20, 2021 for personal reasons.

As for the Xiaokang shares mentioned in the above news, Xiaokang shares, which was established in 2007, is a manufacturing enterprise integrating the manufacture and sales of automobiles, automobile engines, and auto parts. It landed on A shares in June 2016.

After Xiaokang shares were deeply “bound” with Huawei in 2021, its shares ushered in a surge. Wind data shows that the share price of Xiaokang shares soared rapidly in the first half of 2021. From February 18, 2021 to June 22, 2021, the stock price rose by 492%, and then began to fluctuate and fell, from June 23, 2021 to the present , a drop of nearly 40%.

On the morning of January 18, Xiaokang Co., Ltd. issued a clarification announcement saying: There are rumors on the Internet that a former person from a securities research institute and a quantitative person from a public fund may be suspected of manipulating securities and insider trading in Huawei’s cooperative enterprises. violations of laws and regulations.

Responsible editor: Li Qiong 3


You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy