China Authorities Transfer Jurisdiction of Ganfeng Lithium's Insider Trading Case for Prosecution

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China Authorities Transfer Jurisdiction of Ganfeng Lithium's Insider Trading Case for Prosecution

MT Newswires Live2025-12-30

Chinese authorities have transferred a corporate insider trading case involving Ganfeng Lithium (HKG:1772, SHE:002460) to the jurisdiction of the procuratorate, according to a Tuesday filing with the Shenzhen bourse.

The procuratorate is China's public prosecutor for criminal cases.

China's securities regulator earlier found the company guilty of insider trading of Jiangxi Special Motor's shares. It then confiscated the proceeds of the share sale worth 1.1 million yuan back in July 2024.

The case stemmed from Jiangxi Special Motor's plan to sell its shares to Ganfeng Lithium as it was at risk of delisting from the Shenzhen bourse for losses incurred in 2018 and 2019.

Ganfeng transferred 30 million yuan to its securities account to buy about 15.7 million shares in Jiangxi Special Motor from June to July 2020 for 26.5 million yuan and sold them within the month for 27.6 million yuan, leading to a profit of 1.1 million yuan.

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