Core Viewpoint - The company, Jincheng Pharmaceutical, is currently operating normally and is focused on five strategic areas: pharmaceutical chemicals, synthetic biology, women's health technology, high-end anti-infection, and new tobacco products [2] Group 1: Business Operations - The company has established a solid reputation in the industry due to its stable and high-quality product offerings, including AE active ester, cephalosporin active ester, and glutathione raw materials [2] - The company's antibiotic injectables, oral agents, and gynecological oral and topical formulations are recognized for their excellent quality and play significant roles in their respective treatment areas [2] Group 2: Future Outlook - By 2025, multiple products are expected to complete domestic and international registrations, leading to a richer product portfolio and enhanced competitiveness [2] - The company plans to increase market development efforts, actively expand new customers and markets, and continuously promote the growth and operational performance of the company [2]

中国经济网北京12月12日讯 金城医药(300233.SZ)今日发布关于公司实际控制人收到行政处罚决定书的公 告。2025年12月10日，公司收到实际控制人赵叶青的通知，其收到中国证监会《行政处罚决定书》（处罚字 ﹝2025﹞147号），主要内容如下： 经查明，当事人存在以下违法事实：2017年8月18日至2020年2月10日(以下简称操纵期间)，赵叶青、王 震、刘峰3人共同操纵"金城医药"股票。其中，赵叶青是操纵行为的决策者，王震是操纵行为的主要实施者，刘 峰是操纵行为的次要实施者。 一、控制使用证券账户情况 根据当事人自认、他人指认、证券账户开户资料及情况说明、证券及银行账户资金往来记录、证券账户交 易流水等证据，操纵期间赵叶青、王震、刘峰控制使用相关账户组共104个账户交易"金城医药"股票。 经测算，账户组实际亏损7,392,044.45元。 赵叶青、王震、刘峰的上述行为违反2005年《证券法》第七十七条第一款第一项、第三项的规定，构成 2005年《证券法》第二百零三条所述操纵证券市场的违法行为。根据当事人违法行为的事实、性质、情节与社 会危害程度，中国证监会决定: 一、依据2005年《证券法》第二百零 ...

Core Viewpoint - Jin Cheng Pharmaceutical (300233) has been penalized by the China Securities Regulatory Commission (CSRC) for stock manipulation involving its actual controller Zhao Yeqing and others, leading to fines and market bans for the involved parties [1][2] Group 1: Regulatory Actions - The CSRC has concluded an investigation into Zhao Yeqing, Wang Zhen, and Liu Feng for manipulating the stock of Shandong Jin Cheng Pharmaceutical Group Co., Ltd., using a total of 104 accounts for trading [1] - Fines imposed include 3 million yuan in total, with Zhao Yeqing responsible for 1.5 million yuan, Wang Zhen for 1.2 million yuan, and Liu Feng for 300,000 yuan [1] Group 2: Market Bans - Zhao Yeqing has been subjected to a 4-year market ban, while Wang Zhen faces a 3-year ban, preventing them from engaging in securities business or holding positions in any listed or non-listed public companies during this period [2] - The bans are in accordance with the 2005 Securities Law and related regulations [2] Group 3: Corporate Governance Changes - Following the regulatory actions, Zhao Yeqing has submitted a resignation report, stepping down from his positions as Chairman, Director, and roles in the board's specialized committees due to personal reasons [2] - His resignation will take effect upon delivery of the report to the board, after which he will no longer hold any position within the company [2]

Core Viewpoint - The chairman of Jincheng Pharmaceutical, Zhao Yeqing, has resigned following a formal penalty from the China Securities Regulatory Commission (CSRC) for stock manipulation, which included a fine of 1.5 million yuan and a four-year market ban [1][6]. Summary by Sections Announcement of Resignation and Penalty - Zhao Yeqing submitted his resignation as chairman and other board positions due to personal reasons, coinciding with the issuance of the CSRC's administrative penalty decision [1][7]. - The penalty includes a fine of 1.5 million yuan for Zhao Yeqing, with additional fines for co-conspirators Wang Zhen and Liu Feng, totaling 3 million yuan [6]. Details of Stock Manipulation - From August 18, 2017, to February 10, 2020, Zhao Yeqing, along with Wang Zhen and Liu Feng, manipulated Jincheng Pharmaceutical's stock using 104 accounts over nearly 600 trading days, resulting in a loss of approximately 7.39 million yuan [2][4]. - The account group held an average of 18.58 million shares, representing 5.68% of the company's circulating shares, with a peak holding of 32.09 million shares, or 9.04% [4]. Impact on Stock Price - During the manipulation period, the account group exhibited significant buying interest, accounting for 17.29% of the market's buy orders and 23.02% of the market's trading volume at certain times, leading to a stock price increase of 21.30% compared to a 2.90% increase in the ChiNext index [4][5]. Evidence and Regulatory Findings - The CSRC found sufficient evidence of coordinated manipulation, including transaction records and witness testimonies, and rejected the defendants' claims of lack of intent and other defenses [6][9]. - The investigation and hearing process lasted over a year, with the CSRC's decision marking the conclusion of the investigation into Zhao Yeqing's actions [9].

Core Viewpoint - Jincheng Pharmaceutical's actual controller and two accomplices engaged in stock manipulation over two and a half years, resulting in significant financial losses and regulatory penalties, including a four-year market ban for the chairman [2][3][4]. Group 1: Regulatory Actions - On August 15, 2024, Jincheng Pharmaceutical announced that its actual controller, Zhao Yeqing, received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into alleged market manipulation [2][4]. - On March 12, 2025, Zhao Yeqing and two others were notified of a proposed fine totaling 46.3174 million yuan, with Zhao personally liable for 23.1587 million yuan, alongside a four-year market ban [3][4][6]. - After a lengthy process, the final administrative penalty was issued on December 10, 2025, confirming the fines and market bans [4][6]. Group 2: Manipulation Details - From August 18, 2017, to February 10, 2020, Zhao Yeqing, Wang Zhen, and Liu Feng manipulated Jincheng Pharmaceutical's stock using 104 accounts, with Zhao as the decision-maker [5][17]. - The manipulation involved concentrated buying and selling, with a total trading volume of 21.34 billion yuan in purchases and 18.7 billion yuan in sales over 595 trading days [6][18]. - Despite the manipulation, the group incurred a loss of 7.392 million yuan during this period, highlighting the ineffective nature of their actions [7][19]. Group 3: Company Performance - Jincheng Pharmaceutical, established in 2004 and listed on the Shenzhen Stock Exchange in 2011, has struggled with stagnant revenues around 3 billion yuan and fluctuating net profits [9][21]. - In recent years, the company reported a significant decline in net profit, with a drop of over 80% in non-recurring net profit in the first three quarters of the current year, amounting to just over 20 million yuan [9][21]. - As of December 11, 2023, the company's market capitalization was approximately 5.8 billion yuan [10][22].

Group 1 - Lu Kang Pharmaceutical plans to increase capital by 109 million yuan to its wholly-owned subsidiary Bio-Pesticide Company and 27 million yuan to Ze Run Company, aiming to expand its pesticide and sales sectors [1] - Hui Green Ecology intends to sell two properties in Ningbo for 12.52 million yuan, expecting a net profit impact of approximately 6.23 million yuan from the transaction [2] - Tianyuan Co., Ltd. plans to invest 185 million yuan in an intelligent upgrade project for its titanium dioxide production facilities [3] Group 2 - Metro Design has received approval from the Shenzhen Stock Exchange for its share issuance to acquire 100% equity of Guangzhou Metro Engineering Consulting Co., Ltd. for 511 million yuan [4] - South Network Energy announced a mid-term profit distribution plan for 2025, proposing a cash dividend of 0.07 yuan per 10 shares [5] - Qibin Group plans to establish two wholly-owned subsidiaries in Shenzhen with a registered capital of 100 million yuan each [6] Group 3 - All New Good received an administrative regulatory decision from the Shenzhen Securities Regulatory Bureau due to issues in financial accounting and information disclosure [7] - Luokai Co., Ltd. announced that its shareholders plan to reduce their holdings by up to 3% of the company's shares [8][9] - Jincheng Pharmaceutical's actual controller received an administrative penalty from the CSRC for stock manipulation, leading to the resignation of the chairman [10] Group 4 - Yicheng New Energy intends to acquire a 7.69% stake in Kaifeng Times for 10 million yuan, enhancing its strategic development [11] - Yujing Co., Ltd. signed a sales contract worth approximately 28.6 million USD with an overseas photovoltaic company [12] - Nuocheng Jianhua's TRK inhibitor, Zoltracitinib, has been approved for market entry in China [13] Group 5 - Nandu Power announced that its controlling shareholder is planning a change in control, leading to a temporary suspension of its stock [14] - Xinxing Casting plans to acquire 100% equity of China Resources Steel for 1.244 billion yuan to focus on special steel development [15] - Xinlitai is planning to issue H-shares and list on the Hong Kong Stock Exchange [16] Group 6 - Blue Fan Medical's subsidiary received approval for a new medical device, the coronary artery scoring balloon dilation catheter [18] - China Iron & Steel plans to establish a joint venture with several companies to provide new energy transportation solutions with a registered capital of 500 million yuan [19] - Jifeng Technology intends to sign a cooperation framework agreement with Dongtai Lianfei for a total transaction amount not exceeding 100 million yuan [20] Group 7 - Zhongwei Electronics announced a change in its actual controller, with stock resuming trading [21] - Weihong Co., Ltd. plans to reduce its holdings by up to 1.15% of the company's shares [22] - Te Fa Information received a criminal judgment related to a fraud case involving the acquisition of Shenzhen Te Fa Dongzhi Technology Co., Ltd. [23] Group 8 - Sunshine Dairy's controlling shareholder's concerted action plans to reduce holdings by up to 3% of the company's shares [24] - Meikailong reported that Taobao Holdings and New Retail Fund collectively reduced their H-shares by 30.616 million shares [25] - Xinjubang plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [26] Group 9 - Beite Technology's application for issuing A-shares to specific objects has been approved by the Shanghai Stock Exchange [28] - Victory Energy's controlling shareholder is planning a change in control, with stock resuming trading [29] - Jiutian Pharmaceutical signed a patent and technology transfer agreement for a small molecule analgesic drug project, with a total transfer fee not exceeding 400 million yuan [29]

Core Viewpoint - Jin Cheng Pharmaceutical's chairman Zhao Yeqing has resigned following an administrative penalty from the China Securities Regulatory Commission for stock manipulation involving the company's shares [1] Group 1: Resignation and Penalty - Zhao Yeqing submitted a written resignation as chairman of Jin Cheng Pharmaceutical [1] - The China Securities Regulatory Commission issued an administrative penalty decision against Zhao Yeqing for stock manipulation [1] Group 2: Details of Stock Manipulation - From August 18, 2017, to February 10, 2020, Zhao Yeqing, along with Wang Zhen and Liu Feng, manipulated Jin Cheng Pharmaceutical's stock [1] - The manipulation involved a group of 104 accounts, with a total buying amount of approximately 2.134 billion yuan and selling amount of about 1.870 billion yuan, resulting in a net loss of 7.392 million yuan [1] - The regulatory authority rejected the defendants' claims of "no manipulative intent" during the investigation [1] Group 3: Consequences - Zhao Yeqing was fined 1.5 million yuan and received a four-year market ban [1]

Core Viewpoint - The chairman of Shandong Jincheng Pharmaceutical Group Co., Ltd., Zhao Yeqing, has been penalized for leading a stock manipulation scheme over nearly three years, resulting in a fine of 1.5 million yuan and a four-year market ban, alongside his resignation from all company positions [1][2][4]. Summary by Sections Stock Manipulation Details - From August 18, 2017, to February 10, 2020, Zhao Yeqing, Wang Zhen, and Liu Feng manipulated the stock of Jincheng Pharmaceutical, controlling a total of 104 accounts for trading [1][2]. - During the manipulation period of 595 trading days, the account group participated in trading for 502 days, buying 119,499,894 shares worth approximately 2.13 billion yuan and selling 107,162,145 shares worth about 1.87 billion yuan [2][7]. - The account group held an average of 18,583,318 shares daily, representing 5.68% of the circulating share capital, with a peak holding of 32,094,771 shares, or 9.04% [2][7]. - Despite the extensive manipulation, the group incurred a loss of 7.392 million yuan [2][7]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) imposed a total fine of 3 million yuan on the three individuals involved, with Zhao Yeqing responsible for 1.5 million yuan, Wang Zhen for 1.2 million yuan, and Liu Feng for 300,000 yuan [2][7]. - Zhao Yeqing received a four-year market ban, while Wang Zhen was banned for three years [2][7]. Company Response and Governance - Jincheng Pharmaceutical stated that the penalties only pertain to Zhao Yeqing personally and do not affect the company's daily operations or management [3][8]. - Zhao Yeqing resigned from his positions due to personal reasons, and the company emphasized that this would not impact the board's operations or the company's normal production [3][8]. - The company plans to complete the election of a new chairman promptly to maintain governance structure integrity [3][8]. Market Impact - Jincheng Pharmaceutical's stock has faced pressure, with a cumulative decline of 26.34% over the past 60 days [4][9]. - As of December 12, the stock price slightly increased by 0.98% to 15.38 yuan, but concerns regarding corporate governance remain prevalent in the market [4][9].

白银价格持续高位震荡 12月11日，美国纽约商品交易所白银期货价格在首次突破每盎司60美元关口之后再次突破每盎司62美 元。国内市场方面，截至12月11日15：00收盘，上海期货交易所沪银主力合约报收于14488元/千克，也 继续上涨。东方金诚研究发展部副总监瞿瑞表示，白银价格短期将高位震荡。"一方面，美联储12月议 息会议如期降息25个基点符合市场预期，可能出现'预期兑现'引发的获利了结压力，同时白银现货紧 张，推升银价涨幅显著大于黄金，也会导致白银面临调整压力；另一方面，在光伏与新能源需求驱动 下，白银供给已连续5年小于需求，同时矿产白银产量增长有限、全球白银库存处于历史低位，供需缺 口持续扩大利好银价。"中长期来看，支撑白银上涨的核心逻辑未发生变化。国信期货研究所首席分析 师顾冯达分析称，随着新能源、电子制造等产业的快速发展，白银的工业应用场景持续拓宽，加剧市场 对白银供需缺口的担忧，吸引资金基于中长期逻辑进行布局。（经济参考报） 年内商业银行"二永债"发行规模达1.66万亿元 中国货币网信息显示，近日，上海银行完成发行年内首只无固定期限资本债券，发行规模为100亿元。 今年以来，商业银行持续通过发行二 ...

Group 1: Industry Developments - Jiangsu Province has officially released its 15th Five-Year Plan, emphasizing the enhancement of industries such as biomedicine, new generation information technology, and high-end equipment, aiming to cultivate strategic emerging industry clusters with international competitiveness [1] - The global first CDK2/4/6 inhibitor, Kimosir, developed by China National Pharmaceutical Group's subsidiary, has been approved for marketing, marking a significant advancement in targeted therapy for breast cancer in China [1] - The innovative drug, Simoziran, developed by Shanghai Pharmaceuticals, has been approved for the treatment of primary hypertension, representing a new addition to the hypertension treatment market [2] Group 2: Company Announcements - Health元 has received a drug registration certificate for its innovative anti-influenza drug, Marpacisavir, which is effective for treating influenza A and B in adolescents and adults, showcasing significant advantages in efficacy and safety [3] - Baijun Medical's subsidiary has received approval for its collagen implant product, the first of its kind in China for improving facial smoothness, highlighting the company's innovation in the collagen field [4] - Innovent Biologics has announced the approval of its next-generation TRK inhibitor, Zoltritinib, for treating adult and adolescent patients with NTRK fusion gene solid tumors, marking a milestone in China's oncology market [5] Group 3: Market Movements - Saili Medical has reported a reduction in shareholding by Shanghai Anze Private Equity Fund to 5.00%, indicating a strategic shift in investment [6][7] - Newnow has submitted an application for H-share listing on the Hong Kong Stock Exchange, reflecting the trend of innovative pharmaceutical companies seeking dual listings [8] - Yunding New Medicine has entered into strategic cooperation with Haishen Biopharmaceuticals, enhancing its commercialization capabilities in the cardiovascular field through service and licensing agreements [9]