On September 28, Jinchuang Group issued an announcement on the receipt of the notice of filing by directors and senior management. The announcement said that on September 27, ge Yaohong, director and general manager of the company, and Hu Limin, director, deputy general manager and financial director of the company, received a notice of filing a case from the CSRC, and the CSRC decided to file a case against the two because of suspected securities market manipulation.
Affected by this news, today's Jinchuang Group opened down to a stop, although the subsequent drop stop opened, but as of the close still fell 7.97%, at 8.43 yuan per share. According to statistics, its stock price has fallen by more than 50% since the high point of the year, and the stock price has been cut.
The suspected securities market manipulation of the company's executives was filed by the CSRC, which was related to the "Ye Fei breaking news" incident that was previously hotly discussed in the industry.
On September 24, the China Securities Regulatory Commission (CSRC) released news that it had recently cooperated with the public security organs to carry out a joint operation to arrest and arrest the main suspected criminals in three cases of market manipulation, including Ye Fei, who was highly concerned by all parties.
The CSRC said that this case is a case of organized market manipulation illegal crimes jointly seized by the CSRC and the public security organs, reflecting the gray and black interest chain of collusion between the manipulation gang and the capital allocation intermediary, market broker, and the "black mouth" of the stock market.
It is worth noting that Jinchuang Group is in the list of private equity fund manager Ye Fei who broke the news on Weibo on May 15 this year.
According to preliminary combing, the 18 listed companies that Ye Fei broke the news before were Zhongyuan Home, Start-up Shares, ST Zotye, Liding Optoelectronics, Zhongying Internet, Tongyu Heavy Industry, Chenan Technology, Kaisheng Technology, Winoxin, Oriental Fashion, Tianyi Best, Jinchuang Group, Guoxuan Hi-Tech, Haozhi Electromechanical, Huayu Mining, Litong Electronics, Xiangxin Technology, LONGi Machinery and Frantech.
After Ye Fei's revelations caused concern, these listed companies were jokingly called "Ye Fei concept stocks" by shareholders.
In fact, Jinchuang Group is not the first listed company to be hammered.
Previously, on July 23, the CSRC reported the progress of the investigation of stock price manipulation cases such as "Zhongyuan Home" and "Litong Electronics", and after investigation, from September 2020 to May 2021, Shi Mou and other manipulation gangs controlled dozens of securities accounts, and pulled up the stock prices of "Zhongyuan Home" and "Litong Electronics" through continuous trading and confrontation, with a transaction amount of more than 3 billion yuan, and the relevant acts have reached the standard of criminal prosecution, suspected of constituting market manipulation crimes.
It is worth noting that Ye Fei previously said that he originally planned to expose 58 listed companies, but because he did not want to be blacklisted by the entire industry, he finally decided to explode only 18. Now that Ye Fei is caught, the speed of investigation will be accelerated, and the follow-up "Ye Fei concept stock" may have the possibility of thunderstorms, and will the future impact continue to expand?
No one can say for sure about this answer now, and can only wait for the official announcement to be notified.
Investors need to be wary of abnormal stock price fluctuations and beware of stepping into investment traps. For listed companies, they strictly abide by the principles and bottom line because they resolutely eliminate pseudo-market value management.