According to an administrative punishment decision updated and disclosed on the CSRC’s website recently, the CSRC filed a case for investigation and trial on Zheng Desheng, chairman of Jiangsu Junye Investment Co., Ltd. (hereinafter referred to as Junye investment), who manipulated the stock price of ” A-Zenith Home Furnishings Co.Ltd(603389) ” ” Hangzhou Nbond Nowovens Co.Ltd(603238) ” ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) “, and decided to confiscate Zheng Desheng’s illegal income of 31.4435 million yuan and impose a fine of 31.4435 million yuan.
control the use of multiple securities accounts
According to the facts and evidence such as Zheng Desheng’s self recognition, the designation of the allocation intermediary or the management party, the hardware information of the account transaction terminal, the source and whereabouts of the account funds, the login mark, the account statistical table and so on, Zheng Desheng actually controlled and used 55 securities accounts such as “long mouwei” from April 27, 2018 to September 28, 2018.
From December 21, 2018 to March 21, 2019, Zheng Desheng actually controlled and used 26 securities accounts such as “long mouwei”, of which 25 accounts traded ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) ” and 18 accounts traded ” Hangzhou Nbond Nowovens Co.Ltd(603238) “.
Since April 2018, Zheng Desheng has allocated funds in the ratio of 1:4 or 1:5, borrowed accounts (including funds) from multiple intermediaries, and successively traded ” A-Zenith Home Furnishings Co.Ltd(603389) ” ” Hangzhou Nbond Nowovens Co.Ltd(603238) ” ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) ” and other stocks. The trading place is located in Junye investment trading room. During the trading period, Zheng Desheng issued trading instructions to traders by telephone or at the trading site. Traders traded according to Zheng Desheng’s instructions, including Xu Yibing, Liang, Tao Yiqian, Zheng mouming, etc.
manipulate stock prices by various means
According to the decision on administrative punishment, Zheng Desheng manipulated the stock price of ” A-Zenith Home Furnishings Co.Ltd(603389) “, Hangzhou Nbond Nowovens Co.Ltd(603238) “and” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) “by various means. Manipulation methods mainly include centralized capital advantage, shareholding advantage, continuous trading, inter account trading under their actual control, etc.
In terms of manipulating the stock price of ” A-Zenith Home Furnishings Co.Ltd(603389) “, from April 27, 2018 to September 28, 2018, Zheng Desheng controlled the use of 55 securities accounts such as “long mouwei” (hereinafter referred to as the account group), continuously traded through the concentration of capital advantages and shareholding advantages, manipulated the stock price of ” A-Zenith Home Furnishings Co.Ltd(603389) ” by means of intraday lifting, reverse selling and reverse trading, and bought 26193943 shares in total, The purchase amount was 320 million yuan, 26193943 shares were sold, the sales amount was 338 million yuan, and the profit was 17.95 million yuan. From April 27 to September 20, 2018, the share price of ” A-Zenith Home Furnishings Co.Ltd(603389) ” rose from 11.04 yuan / share to 17.10 yuan / share, up 54.89%. Over the same period, the Shanghai Composite Index fell 11.25%, a deviation of 66.14 percentage points; The home decoration index (882447. WI) fell 28.04%, deviating 82.93 percentage points. From September 21 to September 28, the share price fell from 17.10 yuan / share to 10.56 yuan / share, down 38.25%. Over the same period, the Shanghai Composite Index rose 3.37%, 41.62 percentage points off; The home decoration index rose 1.67%, a deviation of 39.92 percentage points. Zheng Desheng’s manipulation caused great fluctuations in the share price of ” A-Zenith Home Furnishings Co.Ltd(603389) “.
In terms of manipulating the stock price of ” Hangzhou Nbond Nowovens Co.Ltd(603238) “, from December 21, 2018 to February 12, 2019, Zheng Desheng controlled the use of “long mouwei” and other 18 securities accounts (hereinafter referred to as the account group), continuously traded through centralized capital advantages and shareholding advantages, manipulated the stock price of ” Hangzhou Nbond Nowovens Co.Ltd(603238) ” by means of intraday lifting, reverse selling and reverse trading, and bought 11943278 shares in total, The purchase amount was 237635020.51 yuan, the cumulative sales of 11943278 shares, the sales amount was 237378337.34 yuan, and the loss was 660000 yuan. From December 21, 2018 to February 1, 2019, the share price of ” Hangzhou Nbond Nowovens Co.Ltd(603238) ” rose from 18.05 yuan / share to 22.01 yuan / share, up 21.94%, and the Shanghai Composite Index rose 3.23% over the same period, deviating from 18.71 percentage points; The textile, clothing and luxury goods index (882224. WI) fell 2.93%, deviating 24.87 percentage points. From February 11, 2019 to February 12, 2019, the share price fell from 22.01 yuan / share to 19.00 yuan / share, down 13.68%, and the Shanghai Composite Index rose 2.05% over the same period, deviating by 15.73 percentage points; The textile, clothing and luxury goods index (882224. WI) rose 3.33%, 17.01 percentage points off. Zheng Desheng’s manipulation caused great fluctuations in the share price of ” Hangzhou Nbond Nowovens Co.Ltd(603238) “.
In terms of manipulating the stock price of ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) “, from February 18, 2019 to March 21, 2019, Zheng Desheng controlled the use of 25 securities accounts such as “long mouwei” (hereinafter referred to as the account group), traded continuously through centralized capital advantages and shareholding advantages, manipulated the stock price of ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) ” by means of intraday lifting, reverse selling and reverse trading, and bought 26920157 shares in total, The purchase amount was 320 million yuan, 26920157 shares were sold, the sales amount was 334 million yuan, and the profit was 14.15 million yuan. From February 18, 2019 to March 21, 2019, the share price of ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) ” rose from 9.38 yuan / share to 14.31 yuan / share, and then fell to 12.28 yuan / share, up 30.92%. Over the same period, the Shanghai Composite Index rose 15.62%, deviating by 15.30 percentage points; The motor vehicle spare parts and equipment index (882442. WI) rose 17.20%, deviating 13.72 percentage points. Zheng Desheng’s manipulation caused great fluctuations in the share price of ” Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) “.
The CSRC believes that Zheng Desheng’s above-mentioned behavior violates the provisions of item 1 and item 3 of paragraph 1 of Article 77 of the securities law of 2005 and constitutes the manipulation of the securities market described in article 203 of the securities law of 2005.
According to the facts, nature, circumstances and degree of social harm of the parties’ illegal acts, and in accordance with Article 203 of the securities law of 2005, the CSRC decided to confiscate Zheng Desheng’s illegal income of 31.4435 million yuan and impose a fine of 31.4435 million yuan.
