The Sichuan Securities Regulatory Bureau published an administrative penalty decision on its website on the 3rd, identifying the individual as Sun Zheyuan, a male born in July 1997, residing in the Gaoxin District of Chengdu, Sichuan Province. The investigation revealed that Sun Zheyuan controlled and operated the Baidu Baijia account "Dikan," using it to fabricate and publicly release multiple false articles concerning soda ash production, primarily involving two pieces of misinformation.
First, the false information fabricated and disseminated on November 28, 2023: From 16:05:11 to 18:07:20 on November 28, 2023, the "Dikan" account published four articles with similar content. The articles claimed that the soda ash production boiler of a certain Inner Mongolia Co., Ltd. (hereafter referred to as Company A) had malfunctioned, bringing production lines to a standstill and requiring at least six months for repairs. As of November 29, 2023 (one day after publication), these four articles had a total of 2,061 reads on the Baidu Baijia platform, with one article alone receiving 1,749 views.
Second, the false information fabricated and disseminated on November 30, 2023: From 20:06:30 to 20:48:33 on November 30, 2023, the "Dikan" account published 13 articles with similar content. These articles alleged that an earthquake in Alxa had caused damage to Company A's factory facilities. As of December 1, 2023 (one day after publication), the 13 articles had a total of 6,733 reads on the Baidu Baijia platform, with one article achieving 2,219 views. All of these articles were generated by Sun Zheyuan using AI tools, based on unverified online rumors about Company A, and were entirely false information. Within one day of publication, the articles garnered significant readership and broad dissemination. Some investors subsequently inquired about the false information with Company A on the Shenzhen Stock Exchange's interactive platform, and other investors reported the dissemination of false information by Sun Zheyuan to the 12386 platform. Subsequently, Company A commissioned a law firm to issue a "Lawyer's Letter" to Sun Zheyuan, stating that since 2023, Sun Zheyuan, under the Baidu Baijia account "Dikan," had fabricated and published false articles, images, and videos, demanding that Sun Zheyuan immediately cease the creation and spread of false information. Sun Zheyuan's actions in fabricating and disseminating the false information were clearly misleading to investors and disrupted the futures market. During the period of fabricating and spreading the false information, Sun Zheyuan also engaged in trading soda ash futures contracts, and after deducting transaction fees, realized an actual profit of 85,028.85 yuan. The above illegal facts are sufficiently proven by parties' interview records, platform data, relevant explanations, futures account materials, and other evidence. Sun Zheyuan's conduct violated Article 16, Paragraph 1 of the Futures and Derivatives Law, which prohibits any unit or individual from fabricating or disseminating false or misleading information that disrupts the futures and derivatives market. This constitutes an illegal act as described in Article 127, Paragraph 1 of the same law. Based on the facts, nature, circumstances, and degree of social harm of the party's illegal act, and in accordance with Article 127, Paragraph 1 of the Futures and Derivatives Law of the People's Republic of China, the Sichuan Securities Regulatory Bureau has decided to confiscate Sun Zheyuan's illegal gains totaling 85,028.85 yuan and impose a fine of 400,000 yuan.
Editor: Dong Wenbo, Correspondent: Chang Tao
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