The CSRC reported the handling of cases in 2021, which mentioned that 110 cases of market manipulation were handled in 2021, a year-on-year decrease of 26%, and 41 related crimes were transferred to public security organs, a year-on-year increase of 1.5 times. From the perspective of manipulation motivation, some manipulation groups lure the market to follow suit and seek improper interests by means of continuous trading, false declaration, inversion, bewitchment and other means. The actual controllers of some listed companies, in order to achieve the purpose of reducing their holdings at a high level, preventing the delisting of the par value of the share price and avoiding the explosion of Pledged Shares, have verified 14 cases of market manipulation involving the actual controllers or management of listed companies by controlling the content and rhythm of information disclosure and cooperating with market institutions. From the perspective of manipulation mode, the combination of long-term "sitting on the throne" and "fast in and fast out", the intersection of capital advantage and information advantage, and the formation of relatively fixed manipulation modes and processes in the links of target selection, capital preparation, warehouse building and dish washing, lifting and shipping, and many "recidivists" and "recidivists" who manipulate the market are investigated for administrative and criminal responsibility.