The Jiangxi Securities Regulatory Bureau recently issued penalty decisions in an insider trading case. The penalized parties Fan Fengbin and Qiu Liqiang had illegal gains of 27,703.97 yuan and 372,216.18 yuan confiscated respectively, and were each fined 600,000 yuan and 1 million yuan. Upon investigation, during the sensitive period of insider information, Fan Fengbin controlled and used another person's securities account to buy shares of the relevant company, while Qiu Liqiang controlled and used his own and another person's securities accounts to buy shares of the relevant company. The insider information pointed to a merger and acquisition transaction: on March 13, 2025, the relevant company disclosed a suspension announcement stating it planned to purchase assets by issuing shares and paying cash while raising supporting funds, but the administrative penalty decision did not provide specific company information. According to a review by Dazhong Securities News, the announcement that day that completely matched the above information was from the ChiNext-listed company Yangjie Technology, which planned to acquire control of Dongguan Better Electronic Technology Co., Ltd. by issuing shares and paying cash while raising supporting funds. Coincidentally, Yangjie Technology's former board secretary shares the same name as the penalized Fan Fengbin. He served as board secretary and concurrently as assistant to the chairman from November 2022 to August 2025, ceased serving as board secretary in August 2025 due to work adjustments, and no longer served as assistant to the chairman at the end of October 2025. A person also named Qiu Liqiang appears in the lists of key personnel of two subsidiaries of Yangjie Technology. On the afternoon of September 24, Dazhong Securities News called the securities department of Yangjie Technology for verification, and company staff said they were unaware of the relevant situation.
Yangzhou Yangjie Electronic Technology Co LtdYangjie Technology is the company whose M&A insider-information period was traded on, and its former board secretary shares the name of a penalized party, drawing regulatory/legal scrutiny.
Named only as the acquisition target in Yangjie Technology's planned share-and-cash deal; no independent impact on it is described.
