Chinese Mechanical-Equipment Maker Says Its Chair Faces Insider-Trading Probe

What’s new: Chinese mechanical-equipment maker Guangzhou Haozhi Industrial Co. Ltd. (300503.SZ) said its Chairman Tang Lijun is being investigated for insider trading by the national securities regulator, according to a Tuesday exchange filing.

Its Shenzhen stock price plunged 15.72% to 9.06 yuan ($1.27) apiece on Wednesday.

The Guangdong province-based company did not reveal details of the investigation, saying only that the case will not have a major impact on its business operations.