Chinese movie stars deny involvement in insider dealing

November 8, 2013 Leave a comment

Chinese movie stars deny involvement in insider dealing

2013-11-07 03:45:31 GMT2013-11-07 11:45:31(Beijing Time)  Xinhua English

By Jia Xiaoguang, Sina English

Famous Chinese actress Li Bingbing and actor Ren Quan officially denied their alleged activities in an insider dealing through which they might have profited multi-millions, according to a report on November 7. Some whistle-blower posted the tip-off on the microblog service Sina Weibo yesterday. Li and Ren, described as being “in a relationship” in the post, became shareholders of Xiangyun Feilong Renewable Technology Co. Ltd through a Beijing-based fund company this June.The tech company got listed on the stock market in October through its shell company Sunlight, an electrical appliance manufacturer which saw its share price doubled shortly after the listing. Li and Ren have reportedly netted over 20 million yuan from the bonanza over four months’ time, the post revealed.

Li refuted the rumor in an official response early Thursday, saying that she is “merely a shareholder of the fund company responsible for all the investment business” and “plays no part in the company’s decision-making process”.

Ren’s publicity director, claiming ignorance of the whole matter, said it is a “nonsensical rumor” in a similar response. The duo’s alleged romantic relationship was also firmly denied.

Filed under Macro Trends

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