# Cao Peifeng

The Billionaire’s Gamble: Insider Trading Conviction Shakes One of China’s Industrial Dynasties

Cao Peifeng, a billionaire co-owner of Yongjin Technology, has received a suspended three-year prison sentence for insider trading involving less than 550,000 RMB. The case underscores a broader regulatory crackdown on governance failures within China's family-controlled listed companies.