A growing number of Chinese companies are blaming trading typos for insider stock sales

www.cnbc.com/2020/09/09/more-chinese-companies-blaming-trading-typos-for-insider-stock-sales.html

  • Shenzhen Changfang, a manufacturer of light-emitting diode (LED) products, said in a filing that on Friday a shareholder named Nie Xianghong accidentally sold 16,000 shares by typing in the wrong stock ticker.
  • Sany Heavy Industry, a giant in the manufacturing of construction machines, disclosed Friday that due to “misoperation” in the transaction process, Mao Zhongwu sold 96,700 more shares than he had said he would reduce his holdings by.
  • These trading “errors” by major shareholders come after mainland Chinese stocks have recorded significant gains this year.