CSRC published an administrative penalty finding that Chen Huan, Zhou Houlu and Li Pingping manipulated the securities market from Feb 20, 2023 to Aug 1, 2024 by controlling multiple third-party securities accounts and using concentrated capital and

2026-09-24

CSRC published an administrative penalty finding that Chen Huan, Zhou Houlu and Li Pingping manipulated the securities market from Feb 20, 2023 to Aug 1, 2024 by controlling multiple third-party securities accounts and using concentrated capital and shareholdings, repeated buy-sell trades and inter-account transactions to affect stock prices and volumes. The regulator fined the three a combined 8.0 mln yuan (Chen and Li 3.0 mln yuan each; Zhou 2.0 mln yuan) and imposed securities-trading bans of 3 years, 3 years and 2 years, respectively.