The paper focuses on the interpretations of punishment in Sun Xingyan's Shangshu jinguwen zhushu. Taking "Pan geng" and "Kang gao" as examples, this paper illustrates how Sun Xingyan insisted on the principle that fathers and sons were not implicated in one another's crimes during the Three Dynasties period. Moreover, on the basis of examples found in "Kang gao", this paper shows how Sun Xingyan held that, during the Three Dynasties period, scholar-bureaucrats were not retroactively punished, and subordinates were not be punished for being connected to a criminal monarch. By examining Sun Xingyan's interpretations of punishment, and discussing his views on Confucian classics studies, it can be found that Sun Xingyan understood and interpreted classics studies in unique ways. Thus, Sun Xingyan's Shangshu jinguwen zhushu is not entirely devoid of his own insights. In addition, we also find that Sun Xingyan does not completely reject the Pseudo-Kong Commentary.