◎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，浙江证监局发布行政处罚决定书，认定金永荣构成"抢帽子操纵"证券市场行为，对其罚没合 计超8300万元，并采取3年证券市场禁入措施。 作为"金浤"账号运营者，金永荣并非仅在单一平台发力。其不仅长期以该账号发布荐股文章，同时布局 淘股吧、微信公众号、小红书等多平台账号联动宣传，还通过参与实盘比赛、直播分享选股逻辑等方 式，持续积累名气与受众。 高流量的背后，却是一场精心策划的操纵骗局。 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，"大V"金永荣却利用自身影响力实施反 向交易。 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月初粉丝量级就已形成影响力，单篇 荐股文章最高阅读量达808万次。沪深交易所测算结果进一步佐证，该账号发布的案涉荐股文章，对相 关股票的价格和成交量均有较大影响。 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 对投资者产生引导跟随交易影响。 浙江证监局强调，即便帖文中标注"不推荐买卖""不作为买入依据"等免责声明， ...

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 ...

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，浙江证监局发布了一份行政处罚决定书。 金永荣为拥有超过10万粉丝的雪球账号大V，在证券投资领域具有较大知名度和影响力，于2024年第二、三季 度参与淘股吧炒股实盘比赛并获得冠军。他通过"抢帽子"交易的方式操纵市场，被罚没超8324.78万元。同 时，他还被采取3年证券市场禁入措施。 在证券投资领域具有较大知名度和影响力 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。 据悉，金永荣于2024年第二、三季度参与淘股吧炒股实盘比赛并获得冠军。2024年在参加淘股吧实盘比赛期 间，在淘股吧、微信公众号、小红书多次发文复盘总结炒股情况，进一步扩散影响力；在相关平台账号之间相 互宣传引流，从而积累名气和受众。 操纵市场盈利超4000万元，被罚没超8300万元 2024年9月2日至2025年4月1 ...

7个月获利超4000万，"大V"专割粉丝"韭菜"。 1月19日，浙江证监局公布对知名财经"大V"金永荣的行政处罚决定。 其因操纵32只股票被罚没8324.78万元，并采取3年证券市场禁入措施。 m 營自理考 ITIES REGULATORY COM | 累 引 | bm56000001/2026-00000701 | | --- | --- | | 发布机构 | | | 名 | 中国证券监督管理委员会浙江监管局行政处罚决定书 | | 文 를 | | 中国证券监督管理多 当事人:金永荣,男,1988年2月出生,住址:浙江省临海市。 依据《中华人民共和国证券法》（以下简称《证券法》）的有关规定,我局对 场禁入措施的事实、理由、依据及当事人依法享有的权利。应当事人要求,我局举 经查明,当事人存在以下违法事实: 一、金永荣在证券投资领域具有较大知名度和影响力 | | | 证监局介绍 辖区监管动态 政务信 ♥ 当前位置:首页 > 政务信息 > 主动公开 > 证监局文种体裁 > 行政处罚决定 金永荣长期使用"金滚"账号在雪球平台发布荐股文章,并辅以在淘股吧、微信 式,积累名气和受众。截至2025年4月其雪球"金宏"账号粉 ...

2026.01.19 本文字数：1802，阅读时长大约3分钟 作者 |第一财经 杜卿卿 "莫轻信大V荐股！" "聊股可以，荐股也没问题，但是不能忽悠粉丝买，自己却在卖！" 第一财经记者1月19日打开雪球"金浤"主页发现，关注者超过13.46万人，2025年2月11日一篇《兴福电 子：中芯和长存持股的芯片制造材料独角兽》，阅读量为197.4万。 半年爆赚逾4000万 在2024年9月2日至2025年4月16日这半年多的时间里，金永荣在其雪球"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。 处罚决定书显示，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。最 终浙江局决定"没一罚一"，没收金永荣违法所得4162.39万元，并处以4162.39万元罚款，总计8324.78万 元。 浙江局认定，金永荣操纵证券市场的违法行为影响证券交易秩序，情节严重。对金永荣采取3年证券市 场禁入措施。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。 根据金永荣本人的陈述， ...

Core Viewpoint - The Zhejiang Securities Regulatory Commission has issued an administrative penalty decision against Jin Yongrong for engaging in reverse trading and "hat manipulation" after publicly recommending stocks, revealing significant misconduct in the securities market. Group 1: Background and Influence - Jin Yongrong, born in 1988, has gained substantial recognition in the securities investment field through his "Jin Huo" account on the Xueqiu platform, where he published stock recommendations and engaged with audiences across various platforms including Taoguba, WeChat, and Xiaohongshu [1][2]. - As of April 2025, the "Jin Huo" account had over 107,000 followers, with an average reading of 1.3 million per post from September 2024 to April 2025, indicating a significant influence on the market [1][2]. Group 2: Manipulative Actions - Between September 2, 2024, and April 16, 2025, Jin Yongrong publicly recommended 32 stocks while simultaneously executing large reverse sell transactions on the same day or the following day, totaling approximately 630.59 million yuan in trading volume and yielding illegal gains of about 41.62 million yuan [1][2]. - The actions of Jin Yongrong were characterized by a clear contradiction between his public recommendations and subsequent selling activities, which were executed shortly after the recommendations [6][9]. Group 3: Regulatory Findings - The Zhejiang Securities Regulatory Commission determined that Jin Yongrong's activities constituted public stock recommendations, as his posts were widely disseminated and influenced investor behavior [8]. - The commission noted that the trading activities aligned with the typical characteristics of "hat manipulation," where the direction of trading was opposite to the recommendations made [9].