On December 29, 2024, details of a mainland Chinese man born in November 1989, known as a post-85s generation, manipulating stocks have been exposed. This individual controlled 34 accounts to manipulate the stocks of “ST Yushun” and “Sanliu Stock”, with a total transaction amount exceeding 2 billion Chinese yuan (RMB), resulting in profits of over ten million yuan.
The Anhui Securities Regulatory Bureau’s website disclosed an administrative penalty decision on December 27, revealing that the individual involved was fined approximately 22.28 million yuan (with approximately 11.14 million yuan confiscated from illegal gains and a fine of about 11.14 million yuan) for manipulating the stocks of “ST Yushun” and “Sanliu Stock”.
According to the administrative penalty decision revealed, the person in question is named Song Shijie, a male born in 1989, belonging to the post-85s generation.
As reported by the Securities Times on December 29, the information disclosed in the administrative penalty decision showed that the man controlled accounts under names like “Shao Mouzhen” and “Gu Moumin”, totaling 34 accounts, from January 2, 2019, to February 21, 2019, buying approximately 257 million yuan worth of ST Yushun stocks and selling around 260 million yuan worth. Additionally, between January 4, 2019, and April 24, 2019, he bought approximately 877 million yuan worth of Sanliu Stock and sold about 885 million yuan worth, with the total transaction amount exceeding 2 billion yuan.
The administrative penalty decision indicated that this man was under investigation for manipulating the stocks of “ST Yushun” and “Sanliu Stock”. The case has now been investigated and concluded.
The administrative penalty decision revealed the specific manipulation activities of Song Shijie.
Regarding the manipulation of “ST Yushun”: From January 2, 2019, to February 21, 2019, Song Shijie controlled the account group, using concentrated capital and stock advantages, and influencing the stock price and trading volume of “ST Yushun” through various means such as continuous trading, reverse trading, and matched trading.
Within 32 trading days, the account group engaged in matched trading for 11 days, with a total of 9,322,969 shares, and on 5 trading days, the volume of matched trading accounted for over 10% of the total trading volume of the security in the market during that period. The account group made a profit of approximately 2.7477 million yuan.
Regarding the manipulation of “Sanliu Stock”: From January 4, 2019, to April 24, 2019, Song Shijie controlled the account group, using concentrated capital and stock advantages, and influencing the stock price and trading volume of “Sanliu Stock” through various means such as continuous trading, reverse trading, and matched trading.
Within 73 trading days, the account group engaged in reverse trading for 52 days, accumulating a total trading volume of 22,643,872 shares. Moreover, within 73 trading days, there were 41 days of matched trading, with a matched trading volume of 11,802,067 shares, and on 18 trading days, the volume of matched trading accounted for over 10% of the total trading volume of the security in the market during that period.
The account group made a profit of approximately 8.3945 million yuan through these manipulative activities.