Wang Ludong, born in Laizhou, Shandong Province, in 1987.

On June 20, 2025, Wang Ludong used the account of Qingdao Yukang Huamao Energy Co.,Ltd to trade with his own account on the contract at Shanghai International Energy Exchange (INE), shifting funds between accounts and disrupting the market.

The above-mentioned behavior has violated the provision in Article 32, paragraph 1, section 3 of the Enforcement Rules of the Shanghai International Energy Exchange.

Accordingly, INE decides to:

1. Give Wang Ludong a reprimand, and

2. Order to make corrections, and suspend the position opening and trading by Wang Ludong for 3 months from the day after receiving the decision on rule violation .

Relevant futures companies should strengthen the client compliance education, as well as the monitoring and management of online trading, and prevent the recurrence of similar incidents. The resolution decisions of rule violation will be recorded in the Securities and Futures Market Credibility File Database.

Shanghai International Energy Exchange
November 19, 2025