China's securities regulator fined one of the actual controllers of Xianhe (SHA:603733), Wang Minglong, 600,000 yuan for suspected short-swing trading, according to a Wednesday filing with the Shanghai bourse.
Wang allegedly used a friend's securities account to purchase 1.5 million shares in Xianhe and sold about the same number of shares for 35.1 million yuan within six months, the company said in its filing.