Insider trading mainly includes the following forms: 1. Insider uses insider information to buy or sell securities, or suggests others to buy or sell securities according to insider information; 2. The insider divulges inside information to others, so that others can make use of the information for profit; 3. Non-insiders obtain insider information by improper means or other means, and buy or sell securities according to insider information, or suggest others to buy or sell securities. Insider here refers to the board of directors, the board of supervisors and other senior managers of listed companies, the staff of securities markets, competent departments and securities intermediaries, as well as lawyers and accountants who serve listed companies and have access to or master inside information.

Legal objectivity:

(1) Subject Elements The subject of this crime is a specific subject, that is, the person who knows inside information, that is, the insider. Insider refers to the insider who knows the inside information of securities and futures trading or the person who illegally obtains the inside information of securities and futures trading. According to the provisions of Article 180 of the Criminal Law and Article 68 of the Securities Law, an insider refers to a person who holds the issuer's securities, or serves as a director, supervisor or senior manager of the issuer or a company closely related to the issuer, or contacts or obtains insider information because of his membership, management, supervision and professional status, or performs the duties of employees and professional consultants, including: 2. Shareholders holding more than 5% of the company's shares; 3. Senior management personnel of the holding company of the issuing company; 4. Persons who can obtain the company's securities trading information because of their positions in the company; 5. Staff of securities regulatory agencies and other personnel who manage securities trading due to their statutory duties; 6. Relevant personnel of social intermediary institutions, securities registration and settlement institutions and securities trading service institutions who participate in securities trading due to their statutory duties; 7. Other personnel as stipulated by the State Council Securities Regulatory Authority. Units can also constitute this crime. (II) Subjective Elements Subjectively, this crime can only constitute intent. Including direct intention and indirect intention. Negligence does not constitute this crime. The intentional content of the actor, that is, the psychological attitude of the actor who knows that insider trading by himself or others will infringe on the legitimate rights and interests of other investors and disrupt the management order of the securities and futures market, but hopes or lets this result happen. The negligent actor is not malicious subjectively, and does not aim at making illegal profits or avoiding losses. Objectively, his behavior of trading securities and futures by using inside information can only be due to negligence, and he mistakenly believes that the information has been made public, which does not constitute this crime. However, for this kind of negligent behavior, administrative punishment should also be imposed. (III) Object Elements The object of this crime is the normal management order of the securities and futures market and the legitimate interests of securities and futures investors. (IV) Objective Elements This crime is objectively manifested as the behavior of the actor who, in violation of relevant laws and regulations, uses the inside information he knows to buy and sell securities and futures before the issuance of securities, trading of securities and futures or other information that has a significant impact on the trading price of securities and futures is officially made public, or advises others to use the inside information to buy and sell securities and futures, or discloses the inside information, and the circumstances are serious. This crime was committed by using inside information. According to Article 69 of the Securities Law, the so-called inside information refers to the undisclosed information that involves the company's operation and finance or has a significant impact on the company's securities market price. It mainly includes the following contents: 1, major changes in the company's business policy and business scope; 2, the company's major investment behavior and major decisions to buy real estate; 3. The conclusion of an important contract by the company may have an important impact on the company's assets, liabilities, rights and interests and operating results; 4. The company has major debts and fails to pay off the due major debts; 5. The company suffers serious losses or the serious losses exceed10% of its net assets; 6. Significant changes have taken place in the external conditions of the company's production and operation; 7. The chairman of the board of directors, more than one third of the directors or managers of the company have changed; 8. Significant changes have taken place in the equity of shareholders who hold more than 5% of the company's shares; 9. Deciding on capital reduction, merger, division, dissolution and filing for bankruptcy of the Company; 10. In major litigation involving the company, the court revoked the resolutions of the shareholders' meeting and the board of directors according to law; 1 1, other matters stipulated by laws and administrative regulations; 12, the company's dividend or capital increase plan; 13, major changes in the company's shareholding structure; 14, major changes in the company's debt guarantee; 15. The mortgage, sale or scrapping of the company's main business assets exceeds 30% of the assets at one time; 16. The behavior of the company's directors, supervisors, managers, deputy managers or other senior managers may cause significant damage according to law; 17, related plans for the acquisition of listed companies; 18, other important information that has a significant impact on the securities trading price as determined by the the State Council securities regulatory authority. Insider information does not include the prediction and analysis of the securities market by using public information and materials.