Dianguang Tech(SZ:002730) Hua Xia Shi Bao·2025-07-31 14:20Core Viewpoint - The case of Wang Bin, a 90s-born individual from Wenzhou, Zhejiang, who manipulated the stock price of DLG Technology (002730.SZ) through 87 accounts, leading to a penalty of approximately 270 million yuan by the China Securities Regulatory Commission (CSRC) [2][3][4] Group 1: Manipulation Details - Wang Bin controlled 87 securities accounts to trade DLG Technology stocks, impacting its price and trading volume from December 15, 2020, to November 17, 2021 [3][4] - During the manipulation period, DLG Technology's stock price rose from around 8 yuan to over 19 yuan, achieving a maximum increase of over 100% before rapidly declining [3][4] - Wang Bin's actions resulted in profits of approximately 90.28 million yuan, leading to a penalty of 270 million yuan, which included the confiscation of illegal gains and a fine [4][5] Group 2: Legal Proceedings - Wang Bin filed for administrative review and litigation against the CSRC's penalty, but both were unsuccessful, with the Beijing High Court upholding the CSRC's decision [5][6] - The court found sufficient evidence of Wang Bin's intent to manipulate stock prices, confirming the legality of the CSRC's actions [6] - Wang Bin has also been implicated in manipulating the stock price of Guorui Technology (300600.SZ) and has faced criminal charges for these actions [7][8] Group 3: Regulatory Environment - The CSRC has maintained a "zero tolerance" policy towards market manipulation and insider trading, with increased collaboration with judicial authorities to enhance enforcement [8] - In 2024, the CSRC reported sending 163 cases involving over 600 individuals suspected of securities crimes to criminal proceedings, indicating a significant crackdown on such activities [8]