The inside story of Hengrui Medicine Chairman's Internal Course Trading

Author:Kenji Bureau Time:2022.09.21

Will the chairman of the "Medicine Brother" with an annual salary of millions of salary be lacking money?

On September 19, a notice from Heilongjiang Securities Regulatory Bureau caused a shock in the pharmaceutical industry. Heilongjiang issued an administrative penalty decision on Zhou Yunshu, the former chairman of Hengrui Pharmaceutical, and found that Zhou Yunshu used his position to use his position, privately built the old mouse warehouse, and made a profit through inside information to make a profit.

Zhou Yunshu stepped down as chairman of Hengrui Pharmaceutical as early as July 2021. Jianxian Bureau learned that after Zhou Yunshu's departure in 2021, he was no longer working in Hengrui. After entering 2022, Hengrui had completely disappeared with him.

The mouse warehouse incident occurred during Zhou Yunshu's chairman of Hengrui Pharmaceutical. In April 2020, Zhou Yunshu learned in advance that Hengrui Pharmaceutical and Sitai will cooperate, rushing to buy Sitai's stock before the two parties announced cooperation, and then sell them in concentrated on the cooperation.

According to the Heilongjiang Regulatory Bureau, Zhou Yunshu made a profit of 450,000 yuan in one step and one out.

There are two major doubts about this: How does Heilongjiang Securities and Supervision Bureau know the mouse warehouse of Zhou Yunshu in Jiangsu? Zhou Yunshu's salary in Hengrui Medicine was as high as 4.8 million yuan in 2020, which was the first of all executives. Why did he still be a mouse warehouse?

The Jianzhi Bureau learned some inside information.

Everyone participated in the negotiations, and one person bought and sold stocks privately

Hengrui and Sitai have always had business exchanges.

Sitai is a well -known domestic supplier and antibiotic raw material supplier in China. Hengrui is the largest producer of domestic contrast agent products. Calculator business such as iodol and iodotol accounted for 12.7%of Hengrui Pharmaceutical's annual revenue in 2021. The raw materials of Hengrui Customs come from Sita, and are the largest customers of Sitai.

In February 2020, Sitai developed by Sitai, which has been engaged in the production of raw materials for a long time, was about to be approved. The annual report of the year showed that Sitai had only 39 salespersons and could not promote the drug.

President of Sitai, Hu Jinsheng, and Shen Yaping, deputy general manager of Hengrui Medicine, have contacted and reached the intention of cooperation.

Hengrui Pharmaceutical's sales system is complete, and the share of radiography is among the best in China. Sitai is not inappropriate to hand over the product to Hengrui sales. With the intention of cooperation, Shen Yaping reported to Zhou Yunshu. Zhou Yunshu authorized Shen Yaping to continue to follow up, and exchanged and determined the details of the cooperation during the period of April 17-29, 2020.

During this period, Hengrui Pharmaceutical Dai Hongbin, Jiang Sumei, Sun Jieping, Liu Xiaohan and many other senior executives participated in the negotiation.

On May 12, 2020, Hengrui Pharmaceutical and Sitai's wholly -owned subsidiary Shanghai Sitai official officially signed a cooperation agreement and issued a cooperation announcement on the 13th.

But just from April 29th to May 11th, Zhou Yunshu controlled the account of Liu Mou, an employee of the insurance financial branch of Hengrui Pharmaceutical Finance Department, and bought 4,5500 shares in the batch of Sili Stocks. All the day was sold.

How is this hidden operation be found?

Although Zhou Yunshu used someone else's account, the Securities Regulatory Department found that when Liu's transaction account commissioned the order, most of the mobile phone numbers used using Zhou Yunshu's mobile phone number, and the capital exchanges of the three -party depository bank account of the trading account recently were Zhou Yunshu's mainly Zhou Yunshu Zhao's husband and wife and "Liu" securities account.

In this way, the securities regulatory department locked the fact that Zhou Yunshu was engaged in a mouse warehouse.

According to the survey, from April 29th to May 13th, 2020, Sitai's shares rose 10.49%. After this wave of operation, Zhou Yunshu made a profit of more than 450,000 yuan.

Liu and Zhou Yunshu, who borrowed an account, was a classmate, and he could also get the care of Zhou Yunshu. After the insider trading incident broke out, the Heilongjiang Securities Regulatory Bureau decided to confiscate the 450,000 yuan from Zhou Yunshu's illegal income, and at the same time imposed a fine of 500,000 yuan.

In response to this scandal, Hengrui Pharmaceutical said to the Jianzhi Bureau that the incident was Zhou Yunshu's personal behavior, and he was no longer working in Hengrui, and the relevant assistants have also left.

tip of the iceberg?

"This scandal is not small in the industry." Some people lamented.

Interestingly, both Hengrui Pharmaceutical or Sitai is not a Heilongjiang enterprise, but the incident was eventually investigated and dealt with by the Heilongjiang Regulatory Bureau.

According to people familiar with the matter, the case was sent by the China Securities Regulatory Commission to Heilongjiang for treatment. The principle of distribution and issuance of the CSRC's headquarters has always been based on efficient and transparently promoting case review. "The dispatch cases generally will be allocated in conjunction with the advantages of various localities. In order to ensure the fair review of the case, it is normal for the supervision of other areas to be sent to other regions."

Hengrui Pharmaceutical is the largest "white horse stock" in the A -share pharmaceutical industry. Once the chairman of the past, such a thing will definitely attract the attention of the industry. It was given to Heilongjiang for review, highlighting the attention of the CSRC.

Zhou Yunshu is an old employee of Hengrui Pharmaceutical and has worked for Hengrui for more than 25 years. From the Minister of Development, Deputy General Manager, to Director and Manager, Zhou Yunshu can be regarded as Sun Piaoyang's powerful assistant.

In 2014, Zhou Yunshu began to be in charge of Hengrui's sales independently. Since then, Hengrui's performance has begun to climb quickly. In January 2020, Zhou Yunshu took over Sun Piaoyang and became the chairman of Hengrui Pharmaceutical.

Most domestic pharmaceutical companies choose family inheritance. "Zhou Yunshu takes over as chairman, which is a reflection of the company's improvement of professional managers' governance mechanisms." At that time, Hengrui Pharmaceutical had told the outside world.

Hengrui Medicine's salary for Zhou Yunshu has not been low.Since 2017, Zhou Yunshu's annual salary has risen from less than 3 million to approaching 5 million, and each year ranks first in the annual salary list of Hengrui executives, and even Sun Piaoyong ranked behind.In July 2021, Zhou Yunshu, who served as the chairman of less than two years, resigned all the positions of Hengrui Pharmaceuticals such as the chairman, general manager and the special committee of the board of directors.The annual report shows that the annual salary received by Zhou Yunshu this year was 13.486 million yuan, accounting for 20.83%of the total salary of the directors and supervisors of the year.

In comparison, Zou Jianjun, the leader of Hengrui Technology, who had left in the same year, salary was 5.7761 million yuan.

Regardless of the departure period, Hengrui was not thin to Zhou Yunshu.I just did not expect that he had just become the chairman for 4 months to make insider transactions in order to make small money.

Is this a personal mistake, or is it the corner of the industry?

Writing | Nicotinamide