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Individual Xu Miao manipulates Jinling Sports stock with a fine of 470 million yuan by the China Securities Regulatory Commission slashing.
On January 10th, Jinshi Data reported that the China Securities Regulatory Commission (CSRC) issued an administrative penalty decision. From June 14, 2017 to January 29, 2021, Xu Miao controlled and used the 'account' group, using methods such as continuous buying and selling with the advantage of concentrated funds, and trading securities between accounts under their actual control to influence the stock price and volume of 'Jinling Sports', earning a profit of 156,651,579.19 yuan. The CSRC decided to confiscate Xu Miao's illegal gains of 156,651,579.19 yuan and impose a fine of 313,303,158.38 yuan.