China Resources Double Crane Independent Director Penalized for Insider Trading

On the evening of December 11, 2024, China Resources Double Crane Pharmaceutical Co., Ltd. announced that its independent director, Mr. Yu Shunkun, recently received a warning letter from the Beijing Regulatory Bureau of the China Securities Regulatory Commission regarding his actions involving insider trading.

According to the investigation, during his tenure as an independent director of China Resources Double Crane, Mr. Yu conducted stock transactions between July 15 and July 19, 2024, specifically buying 10,000 shares for a transaction amount of 174,400 yuan and selling 10,000 shares for 182,600 yuan. This behavior violated Article 44 of the Securities Law. In accordance with Article 170 of the Securities Law, the Beijing Regulatory Bureau decided to issue a warning letter to Mr. Yu.

About China Resources Double Crane:

China Resources Double Crane Pharmaceutical Co., Ltd. has a glorious history of 85 years. Founded in 1939 as a military pharmacy in the Taihang Mountain revolutionary base, it initially operated under the name Lihua Pharmacy. In 1949, it moved with the military to Beijing and was renamed Beijing Pharmaceutical Factory, gradually evolving into a large state-owned comprehensive chemical pharmaceutical company, laying the foundation for modern chemical pharmaceutical industry in Beijing. In 1997, through the integration of quality assets, Double Crane Pharmaceutical was established and listed on the Shanghai Stock Exchange, becoming a cross-regional group based in Beijing and radiating nationwide. In 2010, the company joined the Fortune Global 500 under China Resources Group and was renamed China Resources Double Crane in 2012, now serving as an important platform for the chemical pharmaceutical business within the China Resources Group's health sector.

The company currently has 24 subsidiaries, employing a total of 13,000 people. Its main business includes new drug R&D, formulation production, drug sales, active pharmaceutical ingredient production, and pharmaceutical equipment, boasting a rich product line, brand advantages, high product quality, cost control capabilities, strong channel and terminal coverage, international advantages, a dynamic team, and profound cultural heritage. In 2023, the company achieved operating revenue of 10.22 billion yuan, a year-on-year increase of 6%, surpassing the 10 billion yuan mark for the first time; net profit reached 1.33 billion yuan, a year-on-year increase of 13%, outpacing the industry average growth rate. In the 2023 Top 100 Chinese Chemical Pharmaceutical Companies and the R&D Strength Rankings, China Resources Double Crane ranked 14th in both.