Visionox ends acquisition, internal share dealings cleared after inspection

Visionox Technology announced the termination of its proposed acquisition of a controlling stake in Hefei Visionox Technology, which involved issuing shares, paying cash, and raising supporting funds. The decision, made on October 24, 2025, led to a self-inspection of share transactions by insiders and related parties from April 8, 2023, to the termination date.

The inspection covered key personnel, major shareholders, transaction counterparts, intermediary agencies, and their immediate family members. Visionox’s financial director, Li Bo, his spouse, He Jing, and Sun Haimei, mother of CICC manager Wang Cong, engaged in buying and selling Visionox shares. For example, Li Bo’s transactions totaled 57,800 shares bought and 73,800 shares sold, while He Jing bought and sold 79,000 shares. Each individual affirmed their transactions were based on personal investment judgment, unrelated to the restructuring, and denied using inside information.

China International Capital Corporation Limited (CICC), as an independent financial advisor, also reported its share transactions. CICC's proprietary and asset management accounts bought 119,258,248 shares and sold 120,182,601 shares, stating these were independent market-based decisions, without using or being influenced by inside information related to the restructuring. Visionox's board, along with legal and financial advisors, concluded that these transactions did not constitute insider trading.