Core Viewpoint - The rise of financial influencers claiming to provide "information equality" is essentially a disguised form of illegal stock recommendations, exploiting investors' desire for valuable insider information while prioritizing profit over genuine assistance [1][2]. Group 1: Business Model and Practices - Financial influencers charge a membership fee of 499 yuan to access paid groups that promise to break down financial information barriers [1]. - These influencers often recycle overseas research reports or repackage domestic and international reports, sometimes using unverifiable sources, creating an illusion of professionalism [1][2]. - The practice of selling research reports as a means to achieve information equality is misleading, as many reports are available for free through various channels [2][3]. Group 2: Regulatory and Ethical Concerns - The activities of these influencers may violate multiple regulations, including unauthorized use of research reports for commercial purposes, which could constitute infringement [2]. - Providing securities investment consulting services without approval from the China Securities Regulatory Commission (CSRC) may be classified as illegal stock recommendations [2]. Group 3: Information Disparity and Market Dynamics - The notion of eliminating information disparity between institutional and retail investors is a false premise, as institutional investors inherently have access to more comprehensive industry data and analysis [2]. - The quality of content pushed by these influencers varies significantly, and may even include false narratives, potentially exacerbating speculative behavior among investors [3]. - The A-share market has a robust information disclosure system that ensures relatively fair access to information for retail investors, making paid memberships unnecessary [3].