A few days ago, the official website of the CSRC announced a new batch of administrative punishment decisions, in which Zheng Desheng, chairman of Jiangsu Junye Investment Co., Ltd. (hereinafter referred to as Junye investment), was confiscated of his illegal income of 31.4435 million yuan and imposed an equivalent fine for manipulating the stock prices of A-Zenith Home Furnishings Co.Ltd(603389) (603389, SH), Hangzhou Nbond Nowovens Co.Ltd(603238) (603238, SH) and Ningbo Shenglong Automotive Powertrain System Co.Ltd(603178) (603178, SH).
Qixinbao information shows that Junye investment was established in August 2014, with a registered capital of 50 million yuan and a legal representative of Xu Feng. Zheng Desheng holds 99.8% of the equity of Junye investment and is its controlling shareholder.
On the afternoon of January 24, the reporter of “daily economic news” came to room 107, building 8, No. 18, Fenghua Road, Yuhua Economic Development Zone, Nanjing, where Junye investment was registered. He found that this was not the actual office address of Junye investment, and the door was closed. The property personnel in this place said they had never heard of Junye investment.
caused large fluctuations in the share prices of three listed companies
According to the official website of the CSRC, according to relevant facts and evidence, 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 in Junye investment trading room. During this 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.
Among them, 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), traded continuously 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 and reverse selling and reverse trading, and bought 26193900 shares in total, with a purchase amount of 320 million yuan, A total of 26193900 shares were sold, with a sales amount of 338 million yuan and a profit of 17.9534 million yuan.
From April 27 to September 20, 2018, A-Zenith Home Furnishings Co.Ltd(603389) share price 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%, 66.14 percentage points off; 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 A-Zenith Home Furnishings Co.Ltd(603389) share price.
The CSRC held that Zheng Desheng’s above-mentioned acts violated the provisions of items 1 and 3 of paragraph 1 of Article 77 of the securities law of 2005 and constituted the act of manipulating the securities market described in article 203 of the securities law of 2005. Therefore, Zheng Desheng was confiscated of his illegal income of 31.4435 million yuan and fined 31.4435 million yuan.
registered address is not the actual office address
According to the information of China Securities Investment Fund Industry Association, Zheng Desheng passed the examination and has the fund qualification. From September 2011 to February 2013, he served as the manager of the R & D Department of Shanghai hengying Investment Management Co., Ltd; From March 2013 to July 2014, he served as the general manager of the marketing department of Suzhou Shengsheng Investment Co., Ltd.
According to the information on CIC’s online website, Junye investment established “Junye Desheng No. 1 private equity fund” on July 29, 2016. The investment strategy is stock strategy, the closure period is 12 months, the custodian bank is Haitong Securities Company Limited(600837) , the initial investment amount is 1 million yuan, and the income since its establishment is 4.90%.
In addition, Junye investment has also established “Junye stock No. 4 private securities investment fund”, “Junye stock No. 6 private securities investment fund”, “Junye stock No. 7 private securities investment fund”, “Junye stock No. 8 private securities investment fund” and “Junye stock No. 10 private securities investment fund”. However, the above funds have been liquidated.
On the afternoon of January 24, the reporter of “daily economic news” came to room 107, building 8, No. 18, Fenghua Road, Yuhua Economic Development Zone, Nanjing, where Junye investment was registered. He found that this was not the actual office address of Junye investment, and there was a sign of another company, and the glass doors and windows were closed. The reporter found through the window gap that the room was suspected to be used as a warehouse and there was no office space.
It is reported that the registration place is located in the software Valley incubation base of Jiangsu high tech entrepreneurship service center. If the enterprises settled in the base meet the relevant conditions, they can get tens of thousands of yuan of rewards and rent subsidies. The local property staff told reporters that they had settled in the base since 2019. They had never heard of Junye investing in the company, and there was no record in the registration list.
On January 24, the reporter dialed Xu Feng, the legal representative of Junye investment, to try to understand the current situation of the company and Zheng Desheng’s personal situation, but Xu Feng said he was unclear and wanted to verify it, and then hung up the phone.
