The "post-90s" man controlled 87 accounts to speculate on a stock, making a profit of nearly 100 million, and the CSRC fined 270 million
A few days ago, the China Securities Regulatory Commission issued an administrative penalty decision (Wang Bin) through the official website. According to the information in the penalty letter, from December 15, 2020 to November 17, 2021, Wang Bin controlled the use of 87 securities accounts to trade the shares of "Dianguang Technology (002730)", making a total profit of 90.2751 million yuan.
Wang Bin was born in 1990 and currently lives in Wenzhou, Zhejiang Province. According to the punishment letter issued by the China Securities Regulatory Commission, during the manipulation period, Wang Bin affected the trading price and trading volume of "Dianguang Technology" shares by concentrating capital advantages and shareholding advantages, and trading between accounts under his actual control.
It is reported that during the manipulation period, Wang Bin's account group held 25.5385 million shares of "Dianguang Technology" at the beginning of the period, bought 150 million shares during the period, with a purchase amount of 1.932 billion yuan, and as of November 17, 2021, 146 million shares were sold with a sale amount of 1.965 billion yuan. During this period, the stock price of "Dianguang Technology" rose from 11.43 yuan to 19.21 yuan, and the lowest was 8.34 yuan, with an amplitude of 130.34%.
The China Securities Regulatory Commission believes that Wang Bin's manipulation of "Dianguang Technology" violated relevant regulations and constituted the manipulation of the securities market under Article 192 of the Securities Law. Based on this, the China Securities Regulatory Commission decided to confiscate Wang Bin's illegal gains of 90.2751 million yuan and impose a fine of 181 million yuan, with a total fine of 270 million yuan.
It is worth noting that at the same time, the China Securities Regulatory Commission also issued another administrative penalty decision, involving the company whose stock price was manipulated is also Dianguang Technology.
According to the above-mentioned administrative penalty letter, on October 12, 2020, Chen Jilei, who lives in Yueqing City, Zhejiang, used the "Xin Steward" sub-account (involving 63 securities accounts) to start buying shares of Dianguang Technology. On November 19, 2020, Chen Jilei held 17,125,200 shares of "Dianguang Technology" through "Xin Steward", accounting for 5.31% of the voting shares. However, Chen Jilei failed to fulfill his reporting and announcement obligations and continued to trade within five days from the date of the occurrence of the fact. On December 14, 2020, Chen Jilei held the highest proportion of "Dianguang Technology", reaching 7.91%.
Chen Jilei continued to trade 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.
The CSRC believes that Chen Jilei's excessive shareholding was not disclosed in accordance with the regulations, and the trading of shares during the transfer restriction period violated the provisions of Article 36, Paragraph 1 and Article 63, Paragraph 1 of the Securities Law. Based on this, the China Securities Regulatory Commission decided to order Chen Jilei to make corrections, give a warning, and impose a fine of 1 million yuan on Chen Jilei's behavior of failing to disclose his excessive shareholding in accordance with regulations, and to order Chen Jilei to make corrections, give a warning, and impose a fine of 1 million yuan on Chen Jilei's behavior of trading stocks during the transfer restriction period, for a total fine of 2 million yuan.
According to public information, Dianguang Technology was founded in 1993 and is headquartered in Yueqing City, Zhejiang Province, and is a comprehensive service provider of explosion-proof electrical solutions. Now the industry has covered mining explosion-proof, petrochemical explosion-proof, power equipment, emergency rescue, monitoring and monitoring, military, electronics, computer systems and other fields.
According to the 2023 annual performance report previously released by Dianguang Technology, during the reporting period, the company achieved a total operating income of 1.377 billion yuan, a year-on-year increase of 11.95%, an operating profit of 136 million yuan, a year-on-year increase of 44.36%, a net profit attributable to shareholders of listed companies of 119.6 million yuan, a year-on-year increase of 33.13%, and a net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of 104 million yuan, a year-on-year increase of 30.80%.