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On February 19, during trading monitoring, SZSE discovered that from 9:30:00 to 9:30:42, multiple securities accounts of Ningbo Lingjun Investment Management Partnership (Limited Partnership) (“Ningbo Lingjun”) automatically generated trading instructions through computer programs and placed large quantities of orders in a short time. Stocks amounting to CNY 1.372 billion were sold through such accounts and the Shenzhen Component Index fell rapidly during that period, affecting the normal trading order. This constituted an abnormal trading activity specified in Item 6 of Article 6.2 of the Trading Rules of Shenzhen Stock Exchange. The securities accounts of Ningbo Lingjun continued abnormal trading activities though they have been repeatedly subject to regulatory measures such as written warning by SZSE for such activities since this year.
According to the Implementing Rules for Restricted Trading, the Implementing Measures for Self-disciplinary Supervision and Disciplinary Measures and other relevant provisions of SZSE, we decided to take trading restriction measures against the relevant securities accounts of Ningbo Lingjun from February 20, 2024 to February 22, 2024, during which period Ningbo Lingjun is restricted from trading in all stocks listed and traded on SZSE. In addition, we initiated the disciplinary sanction procedures for public censure against Ningbo Lingjun.
SZSE will, in accordance with the unified arrangement of the CSRC, resolutely implement the requirements of strict and tough regulation, adhere to the primary responsibility for regulation and treat regulation as its primary business and constantly strengthen trading regulation. Moreover, SZSE will always maintain a strict tone and a tough stance of “zero tolerance” for, quickly respond to and crack down on the illegalities and violations that affect the normal order of the market and damage the legitimate rights and interests of investors. At the same time, SZSE reminds investors to participate in trading in accordance with laws and regulations to jointly maintain the normal trading order of the market.
