Exclusive: Jiangsu Securities Regulator Chief Ling Feng Detained

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Ling Feng

Ling Feng, the Party secretary and director of the Jiangsu Securities Regulatory Bureau, was recently detained by the provincial anti-graft body, Caixin learned from sources.

Ling, 55 was taken from a provincial meeting by staff of the Jiangsu branch of the Communist Party’s Central Commission for Discipline Inspection on Monday morning, according to multiple witnesses.

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Jiangsu Securities Regulatory Bureau's director Ling Feng has been detained by the provincial anti-graft body.
Ling's detention may relate to cases involving local listed companies, including possible linkage to Pengyao Environmental Protection Co. Ltd. and Jin Tong Ling Technology.
The local regulatory bureaus face significant scrutiny due to their oversight roles, with prior notable cases like Xiong Guosen's investigation in 2016.

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Who’s Who

Pengyao Environmental Protection Co. Ltd.: Pengyao Environmental Protection Co. Ltd., a Shenzhen-listed firm based in Yixing, announced in February that one of its actual controllers was detained for insider trading. There is no established direct link between this case and Ling Feng's detention, who is the Party secretary and director of the Jiangsu Securities Regulatory Bureau.

Jin Tong Ling Technology Group Co. Ltd.: Jin Tong Ling Technology Group Co. Ltd. is a state-owned manufacturer specializing in centrifugal air blowers, air compressors, and steam turbines. From 2017 to 2022, the company inflated its revenue by over 1.1 billion yuan and profit by 411 million yuan. For this severe financial fraud, it was fined 1.5 million yuan, and its four executives were fined 4.2 million yuan. Five brokerages and accounting firms involved were also punished.

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What Happened When

From 2017 to 2022：: Jin Tong Ling Technology Group Co., Ltd. inflated figures of more than 1.1 billion yuan of revenue and 411 million yuan of profit.

February 2024：: Pengyao Environmental Protection Co., Ltd.'s actual controller was detained for insider trading.

Monday morning, June 17, 2024：: Ling Feng was taken from a provincial meeting by the Jiangsu branch of the Communist Party’s Central Commission for Discipline Inspection.