Suspected insider trading! Guanghua Technology's Chief Financial Officer under investigation by the CSRC

China Economic Journal Reporter Chen Jiayun Beijing Report

On the evening of April 1, Guanghua Technology (002741.SZ) released an announcement stating that on March 31, the company’s director and CFO Cai Wen received the “Filing Notice” issued by the China Securities Regulatory Commission (CSRC) (CSRC Filing Case No. 0382026072). Due to suspected insider trading, the CSRC decided to file a case against Cai Wen.

In response to the above matter, a person from Guanghua Technology told a reporter from China Business News that the matter involves activities related to the CFO’s individual securities account and is not company-level securities trading, nor does it involve any operational matters at the company level.

Guanghua Technology’s announcement shows that this filing and investigation is against Cai Wen personally and is unrelated to the company’s daily operations or business activities, and it does not involve trading of the company’s stock. At present, Cai Wen is still performing her duties normally and said that she will actively cooperate with the CSRC’s investigation.

Public information shows that Cai Wen is 53 years old and holds qualifications as an intermediate accountant, a certified public accountant, and a registered tax agent. She joined Guanghua Technology in 2008. Since 2010, she has served as a director and CFO, with a term until 2028. In 2025, she received pre-tax remuneration of 900,000 yuan 310,000 yuan from Guanghua Technology.

The above person from Guanghua Technology said that this incident involves only the CFO personally and will not have any negative impact on the normal conduct of the company’s financial work or the company’s overall operations, and the company’s financial processes remain in a normal state.

As a listed company in China’s specialized chemical products sector, Guanghua Technology’s performance over the past three years has seen relatively large fluctuations.

Financial data shows that in 2023, Guanghua Technology achieved operating revenue of 2.699 billion yuan, down 18.26% year-on-year; net profit attributable to shareholders was a loss of 431 million yuan, down 468.55% year-on-year. In 2024, the company’s operating revenue was 2.589 billion yuan, and net profit attributable to shareholders was a loss of 205 million yuan.

Regarding the losses in 2023 and 2024, Guanghua Technology previously explained that due to industry cyclical fluctuations, demand for new energy materials orders was insufficient, and the prices of products such as lithium carbonate remained at a low level; as a result, the profit-making ability of the new energy materials segment continued to decline, leading to operating losses.

In 2025, Guanghua Technology’s performance turned from loss to profit. According to the 2025 annual report released by Guanghua Technology on March 30, 2026, the company achieved full-year operating revenue of 2.964 billion yuan, up 14.50% year-on-year; net profit attributable to shareholders was 104 million yuan, turning from the prior-year same period’s loss of 205 million yuan to profit; net profit after deducting non-recurring gains and losses was 103 million yuan, up 162.75% year-on-year.

Regarding the reasons for the performance rebound, Guanghua Technology said that in 2025, the company continued to increase efforts to expand the specialized chemical and PCB segment businesses, further expanding its leading advantages in the specialized chemical and PCB fields; by adjusting the development strategy and operating plan for the new energy segment, it achieved a reduction in losses for the new energy segment; it also continued to advance cost reduction and efficiency improvement initiatives to enhance product competitiveness and operating efficiency, thereby ensuring the company’s steady development.

Editor: Dong Shuguang Review: Wu Kezhong Proofreading: Liu Jun

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