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Chitchat ATB Wife of HKEX Listed Tiong AI Company's Chairman Suspected of Insider Trading!

Pinkieslut

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Chinese AI tycoon’s wife admits to $28.6 million of secret trades​

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Chinese regulators have pledged to crack down on insider trading and other market irregularities that persist on relatively young bourses. PHOTO: REUTERS
UPDATED

APR 12, 2024, 04:00 PM

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BEIJING - Chinese regulators are zeroing in on one of the country’s most prominent artificial intelligence (AI) and computing companies, after a probe uncovered how the chairman’s wife secretly traded 150 million yuan (S$28.6 million) of company stock during a year-long mega rally.
Dawning Information Industry, one of a plethora of Chinese technology leaders blacklisted by the US, described how Ms Zhang Dihua pocketed 590,000 yuan from 232 trades between March 3, 2023, and March 14, 2024. The company’s shares surged more than 50 per cent during the period.
That was when investors poured into companies expected to ride a wave of AI development across a country locked in a tech race with the US. Dawning, which disclosed the affair after an inquiry from the stock exchange, apologised for the incident but stressed that Ms Zhang kept her husband, Mr Li Guojie, in the dark.

The company’s shares rose as much as 4.1 per cent on April 12. Chinese regulators have pledged to crack down on insider trading and other market irregularities that persist on relatively young bourses, in a business environment that often prizes connections.
Still, the rare public admission threatens to tar one of the country’s most influential tech industry figures. Backed by China’s elite science research institute, Dawning is one of a handful of domestic players developing high-performance chips and servers for state-sponsored projects.
Washington sanctioned the company in 2019 for its role in supercomputer development, effectively cutting it off from American software and components.



The 80-year-old Mr Li, who has been Dawning’s chairman over the past decade, is a renowned academician and member of the Chinese Academy of Engineering since 1995.

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The Purdue University-trained computer scientist led Dawning through a computing boom spurred by Beijing’s efforts to replace American technology. More recently, investors identified Dawning as one of the potential winners in AI.
Ms Zhang’s trading started two weeks before the shares embarked on their rally, which peaked around June 2023. The stock then gained another 83 per cent between a trough in February and March 11 of 2024, as excitement over machine-generated content rekindled.
Her actions were considered short-term trading by the spouse of an executive. Dawning said Ms Zhang has turned in all profits in compliance with securities law. But the company emphasised the transactions did not amount to insider trading based on private information, the filing said, since the chairman was not consulted.
Dawning said it will conduct related training for executives and that Mr Li and his wife will abide by laws and regulations. BLOOMBERG
 
Recap 36moons ago....

SpaceX could land astronauts on the moon in 2024, Elon Musk says

News
By Mike Wall
published April 24, 2021
Though he did acknowledge that his timelines tend to be optimistic.


An illustration of SpaceX's Starship on the moon. In April 2021, NASA announced that SpaceX won the contract to build the lunar lander for its Artemis program.

An illustration of SpaceX's Starship on the moon. In April 2021, NASA announced that SpaceX won the contract to build the lunar lander for its Artemis program. (Image credit: SpaceX)

Elon Musk doesn't think NASA's 2024 moon-landing goal is out of reach.

"I think it will happen. I think 2024 seems likely," Musk said Friday morning (April 23) in a news conference after the successful launch of SpaceX's Crew-2 mission, which is sending four astronauts to the International Space Station under a contract with NASA's Commercial Crew Program.
 
Fast Forward to now

Starship Faces Performance Shortfall for Lunar Missions​

by Alex Longo2 months ago22Comments

artemis-3-eva-starship-render-800x450.jpg
In this artist’s impression, one of the Artemis 3 astronauts deploys the Lunar Environmental Monitoring Station (LEMS) while her crewmate collects rock samples. Their Starship Human Landing System is in the background. Credit: NASA.

Perhaps the most frequent topic of conversation for the lunar exploration community is when American astronauts will return to the Moon. NASA originally aimed to land the first woman and next man on the Moon by 2024, but that date was pushed back repeatedly to September of 2026 at the earliest.

The largest source of uncertainty in the schedule is SpaceX’s ambitious Starship Human Landing System (HLS), which NASA selected to ferry astronauts between the Orion crew vehicle and the lunar south pole.


While the HLS team is making progress with the development of Starship, Elon Musk recently disclosed a serious issue with the current iteration of the vehicle. Starship is facing a 50% underperformance in terms of the payload which it can deliver to orbit.

If this issue is not rectified, it could have grave implications for Starship’s ability to complete a lunar mission.
 
Chinese regulators are zeroing in on one of the country’s most prominent artificial intelligence (AI) and computing companies, after a probe uncovered how the chairman’s wife secretly traded 150 million yuan (S$28.6 million) of company stock during a year-long mega rally.

LOL, lawless ones of a shithole regime are doing the 'regulating'. Didn't receive guanxi kopi money? :biggrin:
 
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