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Core Viewpoint - The article discusses the regulatory actions taken against a prominent stock promoter, Jin Yongrong, who was fined and banned for manipulating stock prices while misleading followers on social media platforms about his investment intentions [1][4]. Group 1: Regulatory Actions - The Zhejiang Securities Regulatory Bureau imposed a fine of over 80 million yuan (approximately 12 million USD) on Jin Yongrong for manipulating the stock market [4]. - Jin Yongrong's illegal gains amounted to 41.62 million yuan (approximately 6 million USD), which was confiscated along with an equal penalty, totaling 83.25 million yuan [4]. - He received a three-year ban from participating in the securities market, during which he cannot trade securities directly or indirectly [4]. Group 2: Stock Promotion Activities - Jin Yongrong, under the alias "Jin Huo," gained significant popularity on the Snowball platform, amassing over 107,000 followers by April 2025, with individual posts averaging 1.3 million views [1][5]. - He publicly recommended 32 stocks, including "Qidi Environment," "Luwei Optoelectronics," and "Guanghua Technology," while simultaneously executing large sell orders shortly after his recommendations [2][4]. - His promotional activities extended beyond Snowball to platforms like Taoguba, WeChat, and Xiaohongshu, where he shared stock analysis and participated in trading competitions, significantly increasing his follower base [6]. Group 3: Manipulative Practices - Jin Yongrong engaged in a practice known as "robbing the hat," where he would promote stocks and then sell them shortly after, contradicting his recommendations [10]. - The regulatory investigation revealed that he often sold stocks within minutes of posting recommendations, indicating a clear intent to manipulate market perceptions [9][10]. - His posts included misleading signals about his trading positions, which were designed to influence followers' trading decisions, further solidifying his manipulative behavior [9].