The two made a net gain of 906.4 million yuan ($128 million) which was also confiscated by the China Securities Regulatory Commission (CSRC). According to the CSRC, the two had obtained insider information that Joincare's second-largest shareholder Hongxinhang would transfer a 4.8 percent stake to units controlled by two major investors: Tencent founder Ma Huateng and ZhongAn chief executive Ou Yaping. The elder Wang obtained insider information in 2015 through Ou and the controller of Hongxinhang via phone calls and physical meetings. Neither Tencent's Ma nor ZhongAn's Ou was fined or reprimanded by the regulator. China's regulator has been increasingly active with issuing fines in a move viewed by onlookers as the end to the practice of immaterial penalties to further discourage unhealthy practices.