经查明，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，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""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630,594,337.30元，违法所得合计41,623,864.21元。 浙江证监局称，上述违法事实，有相关证券账户开户资料与情况说明、委托交易流水、银行 账户流水、相关人员询问笔录、交易所相关数据信息等证据证明，足以认定。 金永荣对证 券、发行人公开作出评价、推荐并进行反向证券交易，影响或意图影响证券交易价格或者证 券交易量，违反《证券法》第五十五条第一款第六项规定，构成《证券法》 ...

Core Viewpoint - The recent crackdown on accounts involved in market manipulation and illegal stock recommendations on the Xueqiu platform highlights regulatory efforts to maintain market integrity and protect investors [1][4]. Group 1: Regulatory Actions - Xueqiu has initiated a special governance action against several accounts, permanently banning "Hangzhou Xincheng Road," "Lunhui 666," and "Fuluwaya Grandpa" for violations [1][3]. - The Zhejiang Securities Regulatory Bureau imposed a fine exceeding 80 million yuan on the prominent Xueqiu influencer "Jin Huo" (real name Jin Yongrong) and banned him from the market for three years due to illegal stock recommendations and market manipulation [7]. - The crackdown is part of a broader regulatory signal from the China Securities Regulatory Commission (CSRC) aimed at addressing excessive speculation and market manipulation [4][5]. Group 2: Types of Violations - The platform is focusing on four main types of violations: excessive speculation, illegal securities investment consulting, organized illegal operations, and the dissemination of false information [2]. - There is a strict prohibition against using AI technology or misleading narratives to spread rumors or distort public information, which could disrupt market order [2]. Group 3: Impact of Violations - Jin Huo's account had over 107,000 followers, and his posts averaged 1.3 million views, indicating significant influence in the securities investment field [8]. - The illegal activities included recommending 32 stocks and engaging in reverse selling shortly after recommendations, resulting in illegal gains of approximately 41.62 million yuan [7].

2026.01.20 本文字数：1581，阅读时长大约3分钟 作者 |第一财经 周楠 雪球大V"金浤"被罚之后，一批大V账号被平台封禁处置。 1月20日盘前，雪球安全中心公告称，即日起启动专项治理工作，对违规账号"杭州新城路""轮回 666""福禄娃爷爷"作出永久封禁处置。 第一财经在该平台搜索发现，前述账号目前已检索不到，相关发布内容亦不可见。 上述公告发布前一天，1月19日，浙江证监局通报对雪球大V"金浤"（真名金永荣）开出罚没8000余万 以及3年市场禁入的罚单。 重点整治"游资战法""带队复盘"等 "游资战法""付费加群""带队""复盘"……针对以上违规行为，平台开始出手。 根据雪球公告，此次将重点整治四类违规行为：一是过度炒作、诱导跟风交易乃至操纵市场的违规行 为：二是非法证券投资咨询及违规导流；三是网络黑灰产及团伙化违规操作；四是编造传播虚假不实信 息。 当日，雪球还披露称，对"杭州新城路""轮回666""福禄娃爷爷"三位雪球大V永久封禁。 近期，针对违规荐股、过度炒作等，监管信号密集释放。 证监会1月15日召开2026年系统工作会议并提出，严肃查处过度炒作乃至操纵市场等违法违规行为。在 此之前， ...

Core Viewpoint - The article discusses the recent crackdown on financial influencers and accounts on the Snowball platform following regulatory actions against a prominent influencer, Jin Huo, who was fined over 80 million and banned from the market for three years due to market manipulation activities [4][12]. Summary by Sections Regulatory Actions - The Snowball platform has initiated a special governance effort to address violations, resulting in the permanent banning of several accounts, including "Hangzhou New Town Road," "Reincarnation 666," and "Fu Lu Wa Grandpa" [3][7]. - The focus of the crackdown includes excessive speculation, inducement of follow-the-trend trading, illegal securities investment consulting, and the dissemination of false information [6][8]. Case of Jin Huo - Jin Huo, whose real name is Jin Yongrong, was fined a total of 83.25 million, which includes the confiscation of illegal gains amounting to 41.62 million, and received a three-year market ban [12][13]. - Between September 2024 and April 2025, Jin Huo recommended 32 stocks on the Snowball platform and engaged in significant reverse selling shortly after these recommendations, which is characteristic of market manipulation [12][13]. Impact on Influencer Accounts - The crackdown on influencers is part of a broader regulatory signal aimed at addressing excessive speculation and market manipulation, with the China Securities Regulatory Commission (CSRC) emphasizing the need to maintain market stability [8][9]. - The affected accounts span various platforms, including WeChat, Weibo, Baidu, Douyin, and Kuaishou, indicating a widespread effort to regulate financial information dissemination [9].

1月19日，浙江证监局开出了一则行政处罚，直指雪球"大V"金永荣操纵证券市场。 鉴于金永荣的违法行为，浙江证监局决定：没收金永荣违法所得4162.3864万元，并处以4162.3864万元 罚款，合计罚没超8300万元。 此外，浙江证监局对金永荣采取3年证券市场禁入措施，自宣布决定之日起，在禁入期间内，不得直接 或者以化名、借他人名义在证券交易场所交易上市或者挂牌的所有证券。 据悉，金永荣在证券投资领域具有较大知名度和影响力。其长期使用"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，单篇荐股类文章最高阅读量高达808万次。 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，在其雪球"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 ...

Core Viewpoint - The news highlights the regulatory actions taken against prominent financial influencers on the Xueqiu platform, particularly focusing on the penalties imposed on the influencer "Jin Huo" for market manipulation and the subsequent banning of several other accounts for similar violations [2][3][9]. Group 1: Regulatory Actions - The Zhejiang Securities Regulatory Bureau imposed a fine exceeding 80 million yuan (approximately 11.2 million USD) on "Jin Huo" (real name Jin Yongrong) and banned him from the market for three years due to illegal stock recommendations and manipulative trading practices [3][9]. - Following the penalty on "Jin Huo," Xueqiu announced the permanent banning of three other accounts: "Hangzhou Xincheng Road," "Lunhui 666," and "Fu Lu Wa Ye Ye" as part of a broader crackdown on violations [2][5]. Group 2: Violations and Focus Areas - The platform is focusing on four types of violations: excessive speculation, illegal securities investment consulting, organized illegal operations, and the dissemination of false information [4]. - The regulatory environment is tightening, with the China Securities Regulatory Commission emphasizing the need to address excessive speculation and market manipulation, as well as the spread of false information related to the capital market [6][7]. Group 3: Impact on Influencer and Market - "Jin Huo" had a significant following, with over 107,000 followers on Xueqiu and an average article view count of 1.3 million during the period of his activity [10]. - The penalties and regulatory actions are indicative of a broader trend in the industry aimed at stabilizing the market and ensuring compliance with legal standards [6][9].

雪球大V"金浤"刚刚吃了罚单。 雪球大V"金浤"被罚之后，一批大V账号被平台封禁处置。 1月20日盘前，雪球安全中心公告称，即日起启动专项治理工作，对违规账号"杭州新城路""轮回 666""福禄娃爷爷"作出永久封禁处置。 第一财经在该平台搜索发现，前述账号目前已检索不到，相关发布内容亦不可见。 上述公告发布前一天，1月19日，浙江证监局通报对雪球大V"金浤"（真名金永荣）开出罚没8000余万 以及3年市场禁入的罚单。 重点整治"游资战法""带队复盘"等 "游资战法""付费加群""带队""复盘"……针对以上违规行为，平台开始出手。 根据雪球公告，此次将重点整治四类违规行为：一是过度炒作、诱导跟风交易乃至操纵市场的违规行 为：二是非法证券投资咨询及违规导流；三是网络黑灰产及团伙化违规操作；四是编造传播虚假不实信 息。 "严禁利用AI技术或'小作文'造谣传播，捏造所谓内幕消息，歪曲解读公开信息，扰乱市场秩序。"雪球 提到，将对违规账号，将依法依约采取警示、删除违规内容、禁言、关闭账号等处置措施。 当日，雪球还披露称，对"杭州新城路""轮回666""福禄娃爷爷"三位雪球大V永久封禁。 近期，针对违规荐股、过度炒作等， ...

Core Viewpoint - The case of Jin Yongrong, a prominent financial influencer in China, highlights the regulatory crackdown on market manipulation, as he was penalized for manipulating stock prices through misleading stock recommendations and subsequent sell-offs [1][2][4]. Group 1: Regulatory Actions - The Zhejiang Securities Regulatory Bureau imposed a total fine of 83.2478 million yuan on Jin Yongrong for manipulating the securities market and banned him from the securities market for three years [1][2]. - Jin Yongrong's actions included publicly recommending 32 stocks while simultaneously executing large sell orders shortly after the recommendations, amounting to approximately 630 million yuan in trading volume [1][2]. Group 2: Market Influence and Manipulation - Jin Yongrong's account on the Xueqiu platform had over 107,000 followers, with an average reading of 1.3 million per post, indicating significant market influence [1][3]. - The investigation revealed that Jin controlled five securities accounts, executing coordinated trades that aligned closely with his stock recommendations, undermining claims of merely sharing investment insights [2][3]. Group 3: Defense and Rebuttal - Jin Yongrong attempted to defend his actions by claiming his posts were for self-expression and learning, and he did not intend to mislead investors [3][5]. - The regulatory body countered his defense by providing evidence of his substantial market influence and the timing of his trades, which were consistent with manipulative behavior [3][5]. Group 4: Broader Implications - The case reflects a growing trend of regulatory scrutiny over market manipulation, with the China Securities Regulatory Commission increasing its enforcement actions, having handled 63 and 71 cases of market manipulation in 2023 and 2024, respectively [5][6]. - The incident serves as a warning to potential violators, emphasizing that actions perceived as market manipulation will be met with strict penalties, reinforcing the message that regulatory oversight is intensifying [6].

在业内专家看来，此案将"大V带单—反向割韭菜"灰色产业链完整地置于监管审视之下。罚没8325万元 足以覆盖当事人"流量变现"的全部收益，再加上3年的证券市场禁入，相当于将大V的职业生涯一次性 归零。这将彻底扭转违法成本与违法收益的比例关系，强化震慑效应。 就在1个月前，国家网信办和中国证监会宣布，近期两部门深入整治涉资本市场网上不实信息，依法处 置了一批炮制谣言、非法荐股的账号。 业内专家对《中国经营报》记者表示，监管部门查处自媒体大V非法荐股、操纵证券市场等违法行为， 为"自媒体+投顾+交易"的混合模式划定了明确的法律红线，有利于营造、维护清朗的涉资本市场网络 空间。 罚没8325万元+市场禁入3年 浙江证监局《行政处罚决定书》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。浙江证监局认定，金永荣在证券投资领域具有较大知名度和影响力 ...

在市场影响力认定上，浙江证监局指出，"金浤"账号早在2024年9月初粉丝数就已形成影响力，单篇荐 股类文章最高阅读量达808万次。根据沪深交易所测算，该账号发布的案涉荐股文章，对相关股票的价 格和成交量有较大影响。 对于发帖行为性质，浙江证监局明确，金永荣存在反复发帖、转发荐股内容以强化推荐逻辑的行为，部 分帖文还通过展示交易感受、仓位记录等方式，向外界传递自身已加仓买入或未卖出股票的信号，足以 产生引导投资者跟随交易的影响。浙江证监局强调，标注"不推荐买卖""不作为买入依据"仅为形式免 责，不影响行为性质认定。 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。 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。 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，"大V"金永荣却利用自身影响力实 ...