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On March 8, the Shanghai Stock Exchange issued a decision to circulate and criticize Xu Jiajun, then supervisor of Jiuzhou Pharmaceutical.
According to data, Xu Jiajun served as a supervisor of Jiuzhou Pharmaceutical from November 18, 2011 to November 9, 2020.
The Shanghai Stock Exchange pointed out that the behavior of directors, supervisors, and senior managers of listed companies buying company stocks and then selling them within six months constitutes a short-term transaction.
Wang Haibing, the spouse of Xu Jiajun’s then-supervisor of Jiuzhou Pharmaceutical, bought and sold 97,500 shares of the company’s shares within 6 months, constituting a short-term transaction involving 2,189,566 yuan, frequent violations, and the number and amount of illegal transactions.
Within the prescribed time limit, Xu Jiajun, the then supervisor, put forward his defense, and the Shanghai Stock Exchange considered his defense to be untenable.
The notice pointed out that according to the "Securities Law (Revised in 2019)", the proceeds from short-term trading should belong to the company, and the company's board of directors should recover the illegal proceeds.
