Use 32 accounts to hype your own stocks! The actual controller of this family was fined 1.464 billion

category:Finance
 Use 32 accounts to hype your own stocks! The actual controller of this family was fined 1.464 billion


The protagonist of the case is Lin Jun, male, born in August 1967, who is the actual controller of Guangxi Mingli Co., Ltd.

According to the data, Mingli Co., Ltd. is a warehousing enterprise, whose main business income sources are warehouse leasing, loading and unloading services, etc. The company is initiated by Guangxi Mingli Group Co., Ltd. (hereinafter referred to as Mingli group) and natural person He Zhonghua. Lin Jun, the legal representative of Mingli group at that time, directly or indirectly controls 81% of the shares of Mingli, which is the actual controller. Mingli shares was listed on the new third board in January 2015, with flat performance before listing. In 2013 and 2014, its revenue was 11.13 million yuan and 14.45 million yuan respectively, and its net profit was - 170000 yuan and 2.23 million yuan respectively.

On April 24, 2015, Mingli shares, which had just landed in the capital market, completed the first round of fixed increase, raising 300 million yuan per share at 4 yuan, of which two institutional shareholders, Hengxin chemical and Guidong phosphorus, subscribed 140 million yuan and 130 million yuan respectively, with a shareholding ratio of 28% and 26.5%.

32 accounts gain nearly 300 million yuan from speculation

According to the CSRCs punishment decision, Lin Jun, He Zhonghua and Chen Zhiqiang, the senior executives of Mingli, control the use of 32 securities accounts, including: one is the legal person Mingli group, tianhun logistics, Hengxin chemical, Guidong phosphorus industry, shendatong, industrial innovation information and qiangshun agricultural materials; the other is the natural persons Lu, Li (controlled before July 31, 2015) and Chen (controlled before June 19, 2015) 21 accounts, such as Huamao capital Huatong No. 1 securities investment fund, Xiyu sansanban No. 2 securities investment fund, zhongkewotu preferred No. 1 asset management plan and guohaiming Li No. 1 collective asset management plan.

From April 24, 2015 to December 24, 2016, Lin Jun and others affected the trading volume of Mingli shares by adopting the way of continuous trading of centralized capital advantage, shareholding advantage and trading between securities accounts under actual control, which led to the illusion that Mingli shares were active in trading. The trading volume and trading volume ranked the fourth in the new three board, attracting a large number of investors Market makers actively follow up the purchase of Mingli shares and maintain the stock price, so as to achieve the purpose of reducing stock holding and profit. The net number of shares reduced by the account group was 73.2905 million, excluding the amount of shares purchased and the cost of shares reduced by the account group. The account group made a total profit of 293 million yuan.

China Securities Regulatory Commission issues huge fines to Lin Jun, the actual controller

As the actual controller of Mingli, Lin Jun is the organizer, decision-maker and main executor of the above illegal acts.

According to the CSRC, in order to obtain capital and shareholding advantages, Lin Jun directly decided to borrow funds for six corporate accounts to purchase fixed increase shares and provide funds for other individuals and asset management accounts, and the account group subscribed shares through the primary market to build positions, and directly directed Chen Zhiqiang, He Zhonghua and the companys employees to operate the account group to trade Mingli shares. Lin Jun was in operation Vertical market behavior plays a role of organization and planning, and its objective behavior fully reflects the subjective intention of Lin Jun to manipulate the market.

At the same time, the illegal nature of the case is bad, the parties have transferred funds out of the country, manipulated a large amount of money, and disturbed the market price and trading volume of the new third board, so the partys claim that the social harm of the case is less is inconsistent with the facts.

The CSRC decided to confiscate 293 million yuan of illegal income of Lin Jun, He Zhonghua and Chen Zhiqiang, and impose a fine of 1.467 billion yuan, including 1.464 billion yuan on Lin Jun and 1.5 million yuan on He Zhonghua and Chen Zhiqiang. Mingli stock was once a market making Star stock with a valuation of up to 1.8 billion yuan. As the companys 2016 annual report was issued by the accounting office with an audit report unable to express an opinion, it was given a risk warning. Mingli stock was once one of the most active stocks traded on the new third board. From November to December 2015, the daily turnover of Mingli stock often fluctuated around 100 million yuan, accounting for about 10% of the total trading volume of the whole market. As of the latest closing, the market value of the company is less than 60 million, and the stock price is only 0.08 yuan / share. Source: responsible editor of Beijing Youth Daily: Guo Chenqi, nbj9931

The CSRC decided to confiscate 293 million yuan of illegal income of Lin Jun, He Zhonghua and Chen Zhiqiang, and impose a fine of 1.467 billion yuan, including 1.464 billion yuan on Lin Jun and 1.5 million yuan on He Zhonghua and Chen Zhiqiang.

Mingli stock was once a market making Star stock with a valuation of up to 1.8 billion yuan. As the companys 2016 annual report was issued by the accounting office with an audit report unable to express an opinion, it was given a risk warning.

Mingli stock was once one of the most active stocks traded on the new third board. From November to December 2015, the daily turnover of Mingli stock often fluctuated around 100 million yuan, accounting for about 10% of the total trading volume of the whole market. As of the latest closing, the market value of the company is less than 60 million, and the stock price is only 0.08 yuan / share.