According to the Zhidao Finance APP, Dickson Concept (00113) announced that the company received a notice from the Securities and Futures Commission, and the Securities and Futures Commission has initiated disciplinary proceedings in the market against (1) the company; (2) the company's Group Chairman and Executive Director Pan Dishi; (3) Equity Advantage Limited (“EAL”), a company related to the company, and the Chief Operating Officer and Executive Director of the company, Mr. Pan Guanda, for investigation.

On January 9, 2020, the company announced that PayPal Holdings, Inc. had acquired the minority interests held by the company in Honey Science Corporation (“Acquisition Transaction”), realizing a cash consideration of $147,585,708. In the disciplinary investigation, the Securities and Futures Commission alleged that (1) the company should have disclosed the Acquisition Transaction earlier, and alleged that the company, Mr. Pan Dishi, and Mr. Pan Guanda violated disclosure requirements under the securities regulations; and (2) Mr. Pan Dishi traded the company's shares through EAL before the announcement was issued, which was alleged to constitute insider trading in violation of securities regulations.