Caixin
Jul 04, 2022 09:07 PM
BUSINESS

Chinese Lithium Giant Falls Under Insider Trading Probe

One of the world’s largest miners of the key ingredient of most electric vehicle batteries, Ganfeng’s net profit attributable to shareholders surged four times and its stock price rose 28.3% in 2021. Photo: IC Photo
One of the world’s largest miners of the key ingredient of most electric vehicle batteries, Ganfeng’s net profit attributable to shareholders surged four times and its stock price rose 28.3% in 2021. Photo: IC Photo

Chinese mining giant Ganfeng Lithium Co. Ltd. (002460.SZ) announced on Sunday that it is being investigated by the securities regulator for alleged insider trading, triggering a sell-off of its stock.

The China Securities Regulatory Commission revealed on Friday that it is investigating whether the miner was involved in the insider trading of another company’s stock on the secondary market, according to a Ganfeng exchange filing.

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