Xin Lang Cai Jing·2026-01-26 09:12Core Viewpoint - The article investigates the phenomenon surrounding the mysterious figure "Chen Xiaoqun," highlighting how third-party trading software and licensed brokerages have contributed to the creation of a "cult of personality" around this figure, leading to speculative trading behaviors among retail investors [3][4]. Group 1: Market Dynamics - The commercial aerospace sector has experienced significant volatility, with "Chen Xiaoqun" emerging as a focal point in speculative trading activities [3]. - The trading seat associated with "Chen Xiaoqun" at China Galaxy Securities' Dalian Huanghe Road branch has seen substantial net buying, with a reported net purchase of 3.79 billion yuan for Jin Feng Technology, leading to a notable increase in stock prices [6][23]. - Following the identification of "Chen Xiaoqun" on the trading leaderboard, stocks associated with this figure have averaged a price increase of over 4% the following day, with some stocks even hitting the daily limit [6][23]. Group 2: Role of Third-Party Software - Major financial data platforms like Tonghuashun, Dongfang Caifu, and Wind have algorithmically linked "Chen Xiaoqun" to specific trading seats, facilitating retail investors' speculative behaviors [3][10]. - The presence of "Chen Xiaoqun" on trading leaderboards has been utilized by various brokerage apps, which have labeled specific trading seats and stocks with his name, thereby influencing market dynamics and retail investor behavior [21][23]. - The article notes that 19 brokerage apps have implemented similar labeling practices, with over 10 explicitly marking "Chen Xiaoqun" as a top trader, further amplifying the speculative trading environment [23]. Group 3: Investor Behavior and Sentiment - Retail investors have increasingly shifted their focus from traditional financial analysis to tracking the movements of "Chen Xiaoqun," reflecting a growing trend of following popular figures in trading rather than relying on fundamental analysis [9][10]. - Social media platforms are rife with unverified claims and extravagant displays of wealth attributed to "Chen Xiaoqun," contributing to the mythos surrounding this figure and encouraging speculative trading among followers [7][9]. - The phenomenon has raised concerns about the integrity of information disclosure in the securities market, as the unverified status of "Chen Xiaoqun" raises questions about the legitimacy of the trading strategies being promoted [4][5].