A big tree attracts attention: Luxiao Technology’s secretary-general was detained

Luxiao Technology received a notice from the Economic Investigation Corps of the Zhejiang Provincial Public Security Department on April 26 that the company’s board secretary Cai Shen was criminally detained on suspicion of committing a crime. The reason is currently unknown. The company’s board secretary is temporarily exercised by chairman Lu Xiaojun.

According to the company's announcement, the company received a notice on April 26 that the secretary-general was detained. However, the company's stock price fell to the limit on April 25, and the market speculated that an insider learned of the situation and shipped the goods. The top five trading seats sold on the 25th were: Xiangcai Securities Hangzhou Jiaogong Road Sales Department, Soochow Securities Suzhou Xiangcheng Cailian Road Sales Department, Guosen Securities Shanghai Beijing East Road Sales Department, Hongyuan Securities Shanghai Pubei Road Sales Department and Orient Securities Hangzhou Longjing Road Sales Department. These five sales departments are basically in Hangzhou or close to Hangzhou, and the company's headquarters is exactly the Zhejiang company.

Luxiao Technology has been a hot stock in the past six months. From December last year to mid-April this year, the company’s stock price rose from more than 9 yuan to about 27 yuan. Among them, the company signed an agreement with Bourne Optical (Huizhou) Co., Ltd. on April 1 to jointly invest in the establishment of Bourne Luxiao Sapphire Co., Ltd., which was highly sought after by institutions. After the resumption of trading, the stock price rose by the daily limit for five consecutive times.

There is speculation in the market that the status of Bourne Optics determines that the joint venture's sapphire products are very likely to enter Apple's screen material supply chain. The joint venture will purchase equipment from Roxiao Technology to significantly increase its performance. Moreover, the joint venture agreement clarifies that the Bourne Luxiao joint venture will provide Luxiao Technology, a wholly-owned subsidiary of Luxiao Technology, withElectromechanical purchased 200 80kg sapphire crystal growth furnaces. Assuming the net profit of the crystal growth furnace equipment is 10%, the company's net profit will increase by more than 50%.

Regarding the criminal detention of the secretary-general, there are rumors that the secretary-general was reported for insider trading due to conflicts with company insiders.