Finance News on September 19th (Reporter He Fan) Due to the suspicion of illegal disclosure of information by *ST vtron (002308.SZ), sihuan bioengineering (000518.SZ) actual controller Lu Keping and the company's director Lu Yu, father and son were fined a "sky-high" amount. According to the notice, the two are planned to be fined a total of 29.2 million yuan. Lu Keping is once again banned from the securities market for life.

In fact, this is not the first time Lu Keping has been fined. In May 2020, a penalty decision disclosed by sihuan bioengineering showed that Lu Keping was fined a total of 27.34 million yuan for trading sihuan bioengineering stocks within the restricted trading period and failing to disclose his position as the actual controller truthfully. Furthermore, Lu Keping did not disclose related party transactions as required during the years of control, and ultimately, he was taken a lifetime ban from the market.

Last night, sihuan bioengineering announced that the company received a preliminary administrative penalty notice from the Guangdong Securities Regulatory Bureau issued to its actual controller Lu Keping and director Lu Yu due to the suspicion of illegal information disclosure by vtron.

According to the notice, Lu Keping was fined 22 million yuan and banned from the securities market for life; Lu Yu was fined 12 million yuan and 6 million yuan respectively, and was subject to a 10-year ban from the securities market.

Sihuan bioengineering stated that the issues involved in the illegal information disclosure are unrelated to the company and its production and operation are normal.

*ST vtron also announced that it had received the two aforementioned notices, and the investigation into the suspected illegal disclosure of information by *ST vtron, Liu Jun, and Lu Keping has been completed. The Guangdong Securities Regulatory Bureau intends to impose administrative penalties and market entry measures on the company and related personnel.

The advance notice shows that Liu Jun, the proposed acquirer of the company, failed to timely fulfill the reporting obligations of the agreement to acquire, Lu Keping did not inform vtron of significant changes in the control of the company, and *ST vtron did not timely disclose the relevant information as required, leading to false records in the company's 2023 interim report and quarterly report, concerning changes in the actual controller, non-operating fund occupation by related parties, and non-operating fund transactions between the company and related parties.

In 2023, the actual controller of Yangguang Group, Lu Keping, decided to nominate more than half of the members of the board of directors of *ST Vtron by controlling Zhongshu Vtron Technology, thereby gaining control of the board of directors of *ST Vtron. Lu Keping became the actual controller of *ST Vtron no later than June 19, 2023, but he did not inform *ST Vtron of the relevant situation. *ST Vtron did not disclose the change in the actual controller of the company in a timely manner. The semi-annual report of Vtron Group in 2023 disclosed that "there has been no change in the actual controller of the company during the reporting period" and "the ultimate controller of this company has no actual controller", which constitutes false records.

On September 20, 2023, Yangguang Group, controlled by Lu Keping, and Xiling Energy, controlled by Liu Jun, signed a framework agreement for equity transfer cooperation. According to the arrangement of the agreement, Xiling Energy will acquire the control of Zhongshu Vtron Technology, the controlling shareholder of *ST Vtron, through investment relations, which constitutes an agreement-based indirect acquisition of a listed company. Liu Jun, the actual controller of Xiling Energy, becomes the acquirer, and will become the actual controller of *ST Vtron within twelve months.

According to the regulations, Liu Jun became a related natural person of *ST Vtron. From September 28 to October 27, 2023, there was a fund transaction between the China CITIC Bank account of *ST Vtron controlled by Liu Jun and the China CITIC Bank account of Shenzhen Bo Hai Industrial Operation Group Co., Ltd. controlled by himself. Without the internal fund approval of *ST Vtron, Liu Jun transferred approximately 1.437 billion yuan from *ST Vtron's bank account without authorization, of which the net transferred amount of 1.327 billion yuan was used by Liu Jun to repay personal debts, constituting the non-operational fund occupation by a related party.