The China Securities Regulatory Commission recently issued an administrative penalty decision (Wang Bin). From December 15, 2020 to November 17, 2021, Wang Bin controlled the use of 87 securities accounts (hereinafter referred to as the account group) to trade "Dianguang Technology" stocks, and was punished. The total profit was 90.275 million yuan, and it was decided to confiscate Wang Bin’s illegal income of 90.275 million yuan and impose a fine of 180.55 million yuan, for a total fine of approximately 271 million yuan.
Concentrated capital advantage and shareholding advantage
The party involved is Wang Bin, male, born in January 1990, whose address is Ouhai District, Wenzhou City, Zhejiang Province.
The China Securities Regulatory Commission found that from December 15, 2020 to November 17, 2021 (hereinafter referred to as the manipulation period), that is, in the past year, Wang Bin controlled the use of 87 securities accounts (hereinafter referred to as the account group) for transactions." Electro-Optical Technology” stock. During the manipulation period of
, the account group ranked first in the buying volume of "Dianguang Technology" stocks for 120 trading days (accounting for 53.57%), and the account group ranked among the top ten in buying trading volume for 157 trading days (accounting for 70.09%). . There were 100 trading days that ranked first in selling volume (accounting for 44.64%), and there were 134 trading days that ranked in the top ten in selling volume (accounting for 59.82%). During the manipulation period of
, the number of "Dianguang Technology" stocks purchased by the account group accounted for more than 10% of the market trading volume on 94 trading days (41.96%), and more than 20% on 53 trading days (23.66%). More than 30% have 28 trading days (accounting for 12.50%). On December 24, 2020, buying volume accounted for a maximum of 64.07% of the market trading volume. The number of "Dianguang Technology" stocks sold by the account group accounted for more than 10% of the market trading volume on 80 trading days (accounting for 35.71%), more than 20% on 51 trading days (accounting for 22.77%), and more than 30%. There are 30 trading days (accounting for 13.39%). On March 22, 2021, selling volume accounted for a maximum of 51.49% of the market trading volume. During the manipulation period of
, the number of "Dianguang Technology" stocks held by the account group accounted for more than 5% of its A-share circulating shares for 224 trading days, accounting for 100% of the statistical days, and the account group held more than 10% for 219 trading days, accounting for the statistical number. 97.77% of the number of days. On May 20, 2021, the highest shareholding ratio of the account group was 17.11%. During the manipulation period of
, the account group traded "Dianguang Technology" stocks on 212 trading days (accounting for 94.64%), and the account group ranked first in subscription volume on 131 trading days (accounting for 58.48%), ranking among the top ten in terms of subscription volume. There were 171 trading days (accounting for 76.34%), the number one in bidding volume was 94 trading days (accounting for 41.96%), and the top ten in bidding volume were 135 trading days (accounting for 60.27%) .
Continuously Drive Up the Stock Price
The Securities Regulatory Commission found that from December 17, 2020 to January 28, 2021, the account group continued to drive up the stock price. The share price of "Dianguang Technology" rose from 8.34 yuan to 13.53 yuan, a share price increase of 62.23%. . During this period, the account group's purchase volume at no less than the market selling price or market price accounted for 58.34% of the total purchase volume of the account group during this period, and the account group's trading volume accounted for 26.56% of the total market trading volume during the same period.
From April 19, 2021 to May 14, 2021, the account group continued to push up the stock price. The stock price of "Dianguang Technology" rose from 16.51 yuan to 19.21 yuan, with the stock price increasing by 16.35%. During this period, the account group's purchase volume at no less than the market selling price or market price accounted for 39.07% of the total purchase volume of the account group during this period, and the account group's trading volume during the same period accounted for 27.09% of the total market trading volume. During the manipulation period of
, the account group had 100 trading days (accounting for 44.64%) in trading "Dianguang Technology" stocks among the securities accounts actually controlled by it, with a total of 40.9 million shares traded. The number of "Dianguang Technology" stocks traded between the securities accounts actually controlled by it accounted for more than 5% of the market trading volume on 45 trading days, and exceeded 10% on 23 trading days. The proportion on March 10, 2021 Up to 37.75%. During the manipulation of
, the account group held approximately 25.54 million shares of "Dianguang Technology" at the beginning of the period. During the period, it bought 149.95 million shares with a purchase amount of 1.93202 billion yuan. As of November 17, 2021, it sold 146.28 million shares with a sales amount of 1.96468 billion yuan. During this period, the stock price of "Dianguang Technology" rose from a maximum of 11.43 yuan to 19.21 yuan, and a minimum of 8.34 yuan, with an amplitude of 130.34%. During the operation of
, Wang Bin controlled and used the account group to operate "Dianguang Technology" and made a total profit of 90.275 million yuan.
Based on the facts, nature, circumstances and degree of social harm of the parties’ illegal acts, and in accordance with Article 192 of the Securities Law, the China Securities Regulatory Commission decided to confiscate Wang Bin’s illegal gains of 90.275 million yuan and impose a fine of 180.55 million yuan. .
Another "Niu San"
was fined 2 million yuan by the China Securities Regulatory Commission.
On the same day, the China Securities Regulatory Commission also issued an administrative penalty decision, also involving Electro-optical Technology.
The person involved, Chen Jilei, is male, born in January 1982, and his address is Yueqing City, Zhejiang Province.
On October 12, 2020, he used the "Xin Guanjia" sub-account (involving 63 securities accounts) to start buying shares of Electro-Optical Explosion-Proof Technology Co., Ltd. On November 19, 2020, Chen Jilei held approximately 17.13 million shares of "Dianguang Technology" through "Xin Guanjia", accounting for 5.31% of the voting shares. Chen Jilei failed to perform his reporting and announcement obligations within five days from the date of this fact and continued to trade.
On December 14, 2020, Chen Jilei’s holdings in “Dianguang Technology” accounted for the highest 7.91%. Chen Jilei continued trading after holding more than 5% of the shares, buying a total of 470 million yuan and selling 219 million yuan. During this period, Chen Jilei lost 13.53 million yuan.
In accordance with the provisions of Article 36 Paragraph 1 and Article 63 Paragraph 1 of the Securities Law, the China Securities Regulatory Commission decided: First, Chen Jilei’s behavior of failing to disclose excessive shareholdings as required shall be ordered to make corrections and given a warning. , and was fined 1 million yuan; second, Chen Jilei was ordered to make corrections, given a warning, and fined 1 million yuan for his behavior of buying and selling stocks during the transfer restriction period.
Source: Red Star News Comprehensive Daily Economic News, China Securities Regulatory Commission website
