Jincheng Pharmaceutical: Suspected of manipulating the securities market, the company's actual controller Zhao Yeqing was filed by the China Securities Regulatory Commission

Jincheng Pharmaceutical: Suspected of manipulating the securities market, the company's actual controller Zhao Yeqing was filed by the China Securities Regulatory Commission

The announcement shows that on August 14, 2024, Zhao Yeqing, the actual controller and chairman of Shandong Jincheng Pharmaceutical Group Co., Ltd., received the "Notice of Filing" from the China Securities Regulatory Commission (hereinafter referred to as "CSRC"). Due to suspected illegal and irregular behavior of manipulating the securities market, the CSRC filed a case against Zhao Yeqing in accordance with the Securities Law of the People's Republic of China and the Administrative Penalty Law of the People's Republic of China and other relevant laws and regulations.
[Two Supreme News] On August 15, Shandong Jincheng Pharmaceutical Group Co., Ltd. (stock code: 300233) issued an announcement on the company's actual controller receiving the notice of filing from the China Securities Regulatory Commission.

The announcement shows that on August 14, 2024, Zhao Yeqing, the actual controller and chairman of Shandong Jincheng Pharmaceutical Group Co., Ltd. (hereinafter referred to as "Jincheng Pharmaceutical"), received the "Notice of Filing" from the China Securities Regulatory Commission (hereinafter referred to as "CSRC"). Due to suspected illegal and irregular behavior of manipulating the securities market, the CSRC filed a case against Zhao Yeqing in accordance with the Securities Law of the People's Republic of China and the Administrative Penalty Law of the People's Republic of China and other relevant laws and regulations.

The company emphasized that the investigation was aimed at Zhao Yeqing's personal behavior, and the company's current production and operation are normal. It also stated that it will continue to pay attention to the progress of the incident and strictly fulfill its information disclosure obligations.

The announcement is as follows:

Announcement content | Source: Shandong Jincheng Pharmaceutical Group Co., Ltd. official website

It is reported that in 2022, Jincheng Pharmaceutical announced that its wholly-owned subsidiary Shandong Jincheng Pharmaceutical Chemical Co., Ltd. received a tobacco monopoly license approval decision issued by the State Tobacco Monopoly Administration. This is the first electronic cigarette monopoly license issued in my country.

At present, Jincheng Pharmaceutical has a nicotine production capacity of 200 tons/year, and is currently upgrading the production line for nicotine extraction, which will be completed and put into use soon. The company recently responded to investors' questions on the investor exchange platform and stated that the newly planned "plant nicotine extraction expansion project" has been filed, and the project is planned to be carried out in two phases. The first phase will mainly build 300 tons/year of nicotine extraction, and the second phase will mainly build 3,000 tons/year of tobacco flavors and fragrances.