Haohai Biotech shareholder fined for insider trading

Shanghai Haohai Biological Technology Co., Ltd. disclosed that its controlling shareholder and actual controller, Jiang Wei, has been fined for insider trading and recommending others to trade securities. Mr. Jiang Wei received the "Administrative Penalty Decision" from the China Securities Regulatory Commission (CSRC) for matters unrelated to the company.

The CSRC's decision mandates the confiscation of Mr. Jiang Wei's illegal gains totaling CNY 4,709,741.41 and imposes a fine of CNY 14,629,224.23. The company clarified that this administrative penalty relates solely to Mr. Jiang Wei personally and does not involve the company itself.

The company further stated that Mr. Jiang Wei does not participate in its daily operations or management. Therefore, this matter will not significantly impact the company's normal operations, business, or financial performance. All production and operational activities of the company are proceeding normally and in an orderly manner.