知名“大V”，操纵市场！监管出手了

Core Viewpoint - The Zhejiang Securities Regulatory Commission has imposed penalties on Jin Yongrong for manipulating the securities market through stock recommendations and subsequent sell-offs, resulting in a total illegal gain of 41.62 million yuan and a three-year market ban [1][9]. Group 1: Regulatory Findings - Jin Yongrong was found to have manipulated the market by publicly recommending 32 stocks, including "Qidi Environment," "Luwei Optoelectronics," and "Guanghua Technology," while simultaneously executing large reverse sell transactions on the same day or the next day after the recommendations, totaling 631 million yuan in trading volume [1][5][8]. - The illegal gains from these activities amounted to 41.62 million yuan, which the regulatory body has decided to confiscate along with an equal amount in fines [1][9]. Group 2: Influence and Reach - Jin Yongrong operated under the "Jin Huo" account on the Xueqiu platform, amassing over 107,000 followers by April 2025, with an average post reading of 1.3 million times during the period from September 2024 to April 2025 [5][7]. - The account's influence was further evidenced by its high engagement, with the most popular posts reaching up to 8.08 million views, indicating significant market impact [7]. Group 3: Nature of Violations - The regulatory body characterized Jin Yongrong's trading behavior as typical of "hat manipulation," where the timing of stock recommendations closely aligned with subsequent sell transactions, undermining market integrity [6][8]. - Despite Jin Yongrong's claims of lacking market influence and intent to manipulate, the evidence presented confirmed the existence of subjective intent to manipulate the market [6][9].