◎记者 柴刘斌 高流量的背后，却是一场场精心策划的操纵骗局。经查，在2024年9月2日至2025年4月16日期间，金永 荣瞄准"启迪环境""路维光电""光华科技"等32只股票，在公开发文评价、推荐的当日或次日，便通过控 制账户组进行大量反向卖出交易。以当日及次日卖出口径计算，其交易金额合计达6.31亿元，违法所得 合计4162.39万元。 在交易行为特征方面，浙江证监局表示，证券法规定的反向证券交易强调交易方向与荐股方向相反，而 非"仅有卖出、没有买入"。本案中，金永荣的发帖时间与反向卖出操作紧密关联，其所谓的"做T"交 易，实质是针对同一股票反复循环操纵"买入—荐股—卖出"，其买入卖出时机与荐股发帖时间紧密关 联。 凭借平台荐股积累超10万粉丝，单篇文章最高阅读量破800万次，雪球"大V"金永荣却利用自身影响力 实施反向交易。 综合上述事实，浙江证监局作出最终认定：金永荣公开荐股后实施反向交易，操纵市场主观故意明显， 完全符合"抢帽子操纵"行为特征。 1月19日，浙江证监局发布行政处罚决定书，认定金永荣符合"抢帽子操纵"行为特征，对其罚没合计超 8300万元，并采取3年证券市场禁入措施。 面对监管调查，金永 ...

1月19日，浙江证监局发布一则行政处罚决定书：金永荣因操纵证券市场，被罚没共计超8300万元，并被采取3年证券市场禁入措施。 记者｜朱芷葵 编辑｜杨仕添 值得注意的是，据证监会官网2025年12月19日消息，国家网信办会同中国证监会深入整治涉资本市场网上虚假不实信息，对涉资本市场网上虚假不实信息 进行系统性整治，依法处置一批炮制谣言、非法荐股的违规账号。微信公众号"八姐无敌""投行那些事儿"、新浪微博账号"投行小兵"、百度百家号"财经 周末老师"、抖音账号"爱在深秋—郑老师"等一批违规账号已被依法依约关闭。 淘股吧实盘比赛以及直播分享选股逻辑等形式，积累名气和受众。 处罚决定书显示，金永荣长期使用"金浤"账号在雪球平台发布荐股文章，并辅以在淘股吧、微信公众号、小红书等其他平台开通账号发文发帖宣传，参与 截至2025年4月其雪球"金浤"账号粉丝数量超过10.7万人，2024年9月至2025年4月期间发布帖文的单篇平均阅读量高达130万次，金永荣在证券投资领域具 有较大知名度和影响力。 2024年9月2日至2025年4月16日，当事人金永荣知晓其荐股行为具有影响力，在其雪球"金浤"账号公开发文评价、推荐"启迪环境 ...

Core Viewpoint - The article discusses the administrative penalty imposed on Jin Yongrong for market manipulation, highlighting the severity of his actions and the consequences he faces, including a significant financial penalty and a three-year ban from the securities market [1][2][7]. Group 1: Penalty Details - Jin Yongrong was fined over 83.24 million yuan and had illegal gains of approximately 41.62 million yuan confiscated due to his market manipulation activities [2][6][8]. - The Zhejiang Securities Regulatory Bureau determined that Jin Yongrong's actions constituted a violation of the Securities Law, specifically regarding the manipulation of stock prices through reverse trading after recommending stocks [6][7]. Group 2: Market Manipulation Methodology - Jin Yongrong utilized multiple accounts to conduct his trading activities, including a total of five accounts during the period from September 2, 2024, to April 16, 2025 [5]. - He engaged in a strategy known as "robbing hats," where he recommended stocks and then executed large reverse sell transactions shortly after, impacting the stock prices significantly [6][7]. Group 3: Influence and Reach - Jin Yongrong gained substantial recognition in the securities investment field, with his "Jin Huo" account on Xueqiu amassing over 107,000 followers and an average post reading of 1.3 million times from September 2024 to April 2025 [4]. - His participation in stock trading competitions and active engagement across various platforms, including Xueqiu, WeChat, and Xiaohongshu, contributed to his influence and audience growth [4][5].

浙江证监局网站1月19日更新披露的一则行政处罚决定书显示，浙江证监局对金永荣操纵证券市场行为进行立案调查、审理发现，2024年9月2日至2025年4 月16日，金永荣知晓其荐股行为具有影响力，在其"金浤"账号公开发文评价、推荐"启迪环境""路维光电""光华科技"等32只股票，并控制账户组在荐股后 的当日或次日进行大量反向卖出交易。按当日及次日卖出口径计算，交易金额合计6.31亿元，违法所得合计4162.39万元。 根据金永荣违法行为的事实、性质、情节与社会危害程度，浙江证监局决定：没收金永荣违法所得4162.39万元，并处以4162.39万元罚款；对金永荣采取3 年证券市场禁入措施。 | 中国证券监督管理委员会 CHINA SECURITIES REGULATORY COMMISSION | | | 浙江监管局 | | | 清输入关键字 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 首页 证监局介绍 | | 辖区监管动态 | 政务信息 | 办事服务 | 辖区数据 | 互动交流 | 专题专栏 | | ♀ 当前位置：首页 > 政务信息 > 主动公开 ...

Core Viewpoint - The article discusses the administrative penalty imposed on Jin Yongrong for manipulating the securities market, highlighting the severity of the actions and the regulatory response. Group 1: Penalty Details - Jin Yongrong was fined and had a total of over 83 million yuan confiscated due to market manipulation, along with a three-year ban from the securities market [1] - The penalty includes the confiscation of illegal gains amounting to 41.62 million yuan and an equal fine of 41.62 million yuan [2] Group 2: Methods of Manipulation - Jin Yongrong used the "Jin Huo" account on the Xueqiu platform to publish stock recommendations and promoted them across various platforms, accumulating significant influence with over 107,000 followers and an average of 1.3 million views per post from September 2024 to April 2025 [1] - He recommended 32 stocks, including "Qidi Environment," "Luwei Optoelectronics," and "Guanghua Technology," and executed large reverse sell transactions on the same or next day after the recommendations [1] Group 3: Regulatory Actions - The China Securities Regulatory Commission (CSRC) and the National Internet Information Office are actively working to address false information related to the capital market, leading to the closure of several accounts involved in illegal stock recommendations [3]

1月19日，浙江证监局发布的一则行政处罚决定书显示，雪球大V"金浤"通过控制多个账户，在向公众 荐股后，于当日或次日进行大量反向卖出交易，实施"抢帽子操纵"行为，非法获利超4000万元。 最终浙江证监局依法没收其违法所得并处罚款，合计罚没金额超8000万元。贝壳财经记者搜索，目前雪 球平台已无法搜索到"金浤"的相关账号。但其在微信公众号上发布文章回应称，希望大家能够吸取教 训，避免相关违法违规行为的发生。 雪球大V"金浤"荐股交易获利，合计被罚没超8000万元 比如，金永荣虽在淘股吧、微信公众号、小红书等平台开通账号，但发帖频率极低、粉丝数均未达一 万，事实上无法达到积累名气和受众的目的；同时，雪球平台并非证券信息传播的主要渠道。 其还申辩称，发帖是一种自我表达与学习的手段，目的在于通过复盘交易和逻辑提升自我判断力，同时 与他人交流、获得反馈以优化自身策略。 浙江证监局经核查，对其提出的申辩理由逐一予以反驳，并认为其交易行为符合"抢帽子操纵"的典型特 征。 具体来看，《证券法》第五十五条规定的反向证券交易强调交易方向与荐股方向相反，而非"仅有卖 出、没有买入"。金永荣在荐股后的当日或次日进行大量反向卖出交易， ...

Core Viewpoint - The article discusses the administrative penalty imposed on Jin Yongrong, a prominent figure in the investment community, for engaging in market manipulation through reverse trading, resulting in a total fine and confiscation of over 83 million yuan [2][9]. Group 1: Background and Actions - Jin Yongrong, operating the "Jin Huo" account on Xueqiu, has built a significant following of over 100,000 fans and achieved a maximum article view count of 8 million [2][6]. - He utilized multiple platforms, including Taoguba, WeChat, and Xiaohongshu, to promote stock recommendations and enhance his influence [5]. - Between September 2, 2024, and April 16, 2025, he targeted 32 stocks, including Qidi Environment and Luwei Optoelectronics, executing reverse sell trades shortly after recommending these stocks, with a total trading amount of 631 million yuan and illegal profits of 41.62 million yuan [5][9]. Group 2: Regulatory Findings - The Zhejiang Securities Regulatory Bureau determined that Jin Yongrong's account had significant market influence, as evidenced by the high readership of his stock recommendations [6]. - The Bureau noted that his repeated postings and sharing of stock recommendations were designed to manipulate investor behavior, despite disclaimers in his posts [8]. - The regulatory body emphasized that the timing of his posts and reverse trades indicated a clear intent to manipulate the market, classifying his actions as "hat trick manipulation" [9]. Group 3: Penalty and Consequences - Jin Yongrong was ordered to forfeit illegal gains of 41.62 million yuan and pay an equal amount in fines, totaling 83.25 million yuan [9]. - He has been banned from the securities market for three years, during which he cannot trade securities directly or indirectly [9].

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].

1月19日，浙江证监局发布一则行政处罚决定书：金永荣因操纵证券市场，被罚没共计超8300万元，并 被采取3年证券市场禁入措施。 2024年9月2日至2025年4月16日，当事人金永荣知晓其荐股行为具有影响力，在其"金浤"账号公开发文 评价、推荐"启迪环境""路维光电""光华科技"等32只股票，并控制账户组在荐股后的当日或次日进行大 量反向卖出交易。按当日及次日卖出口径计算，交易金额合计约6.31亿元，违法所得合计约4162万元。 （文章来源：21世纪经济报道） 处罚决定书显示，金永荣长期使用"金浤"账号在平台发布荐股文章，并辅以在淘股吧、微信公众号、小 红书等其他平台开通账号发文发帖宣传，参与淘股吧实盘比赛以及直播分享选股逻辑等形式，积累名气 和受众。 截至2025年4月其"金浤"账号粉丝数量超过10.7万人，2024年9月至2025年4月期间发布帖文的单篇平均 阅读量高达130万次，金永荣在证券投资领域具有较大知名度和影响力。 ...

Group 1 - The article discusses the recent penalties imposed on certain stocks, highlighting the importance of transparency and caution in trading practices [1][17] - It mentions specific trading activities related to "启迪环境" (Qidi Environment), detailing various buy and sell transactions with prices and volumes [4][21] - The trading strategy employed by the author is characterized as value speculation, focusing on short-term trading and rolling positions [10][26] Group 2 - The author expresses concern over the consequences of trading practices, particularly regarding the classification of reverse trading and its implications [16][32] - There is a mention of the financial outcomes from trading activities, indicating a significant discrepancy between reported illegal gains and actual profits [31][32] - The article serves as a cautionary note for investors to avoid similar pitfalls in their trading activities [15][31]