Two after 85 manipulated more than 60 accounts to allocate funds and speculate in stocks

The French net is broad, careless but not leaky. The stock price manipulation case three years ago was recently disclosed, and the specific manipulation methods were exposed. The details are very frightening.

Recently, the CSRC issued a decision on administrative punishment and a decision on banning entry into the market, and filed a case for investigation and trial on Zhang Fei and Zhang Xiong’s manipulation of the stock price of Hongyu shares.

Operating 60 accounts in two months and making a profit of more than 30 million

According to the investigation of the CSRC, from March 30, 2018 to May 22, 2018, two post-85 Zhang Fei and Zhang Xiong controlled the use of the account group involved, concentrated their capital advantages and shareholding advantages, continuously traded “Hongyu shares” and manipulated the trading price of the shares.

Specifically, from March 30, 2018 to May 22, 2018, the account group involved in the case carried out the transaction of “Hongyu shares”, with a cumulative purchase turnover of 28391050 shares, a purchase turnover of 1044703457.16 yuan, a cumulative sales turnover of 28239850 shares and a sales turnover of 1073129827.85 yuan. The average proportion of the active purchase volume of the account group involved in the case accounted for 33.94% of the active purchase volume of the market. There were 17 trading days with a proportion of more than 30%, and the highest proportion of declaration was 68.67%.

There were 11 trading days when the proportion of shares held by the account portfolio involved in the case accounted for more than 5% of the total share capital, with the highest proportion of 8.3%. The average proportion of the number of tradable shares held by the account group involved in the case to the actual number of tradable shares was 16.67%, accounting for more than 10% of the trading days for 28 days, with the highest accounting for 33.21%. The average proportion of the trading volume of the account composition involved in the case in the trading volume of the stock market is 24.12%, and the trading days accounting for more than 20% have 20 days, accounting for the highest proportion of 44.83%. The average proportion of the buying volume of the account group involved in the case in the market buying volume is 28.41%. The trading days with a buying proportion of more than 20% have 22 days, and the highest buying proportion is 62.14%. The average proportion of the sales volume of the account group involved in the case accounted for 19.83% of the market sales volume. There were 14 trading days when the sales accounted for more than 20%, and the highest sales accounted for 56.28%.

During the period of the case, the account group involved repeatedly carried out intraday and late trading to drive up the stock price, and took the opportunity to sell in reverse for profit. Based on the standard calculation of “the increase in the period is more than 2% and the purchase transaction accounts for more than 30%, the account group raised the share price in 36 intraday periods, with the lowest increase of 2.02% and the highest increase of 8.20%. During the uplift period, the average proportion of the buying volume of the account group in the market buying volume in the same period was 63.48%, and the average proportion of the active buying volume of the account group in the market buying volume in the same period was 66.68%. After the pull-up, the account group sells shares. During the period involved, the price of “Hongyu shares” increased by 20.13%, and the small and medium-sized board index increased by 1.31%, which deviated from the board index by 18.82%. The illegal income of the account group involved was 31634411.14 yuan.