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AboutShijiazhuang Tonghe Electronic Technology Co., Ltd. is a high-tech enterprise dedicated to technological innovation, product innovation, and management innovation in the power electronics industry. It integrates R&D, manufacturing, sales, and service in the power electronics sector, providing customers with comprehensive energy solutions. -
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PartnerIn the future, the company will continue to uphold its corporate mission of “embracing an entrepreneurial spirit, focusing on power electronics, efficiently utilizing energy, and serving global users,” while adhering to the core values of “contribution, mutual benefit, gratitude, efficiency, and innovation” to provide users with high-quality products and services.
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Stay rational in your investments and steer clear of illegal stock recommendations.
Release time:
Mar 15,2021
Source: Compiled from the Investor Education Base of the Shenzhen Stock Exchange
1. Be vigilant against illegal stock recommendation activities disguised as “investor education.”
Recently, there has been a surge in illegal stock-picking activities disguised as “investor education.” On the surface, these activities claim to promote financial literacy and teach stock-trading techniques; in reality, however, they constitute unauthorized securities investment consulting services that are highly deceptive and misleading. Illegal operators lure investors into purchasing “investor education” courses by making phone calls or adding them as WeChat friends. These courses typically cover topics such as explaining stock-market knowledge, analyzing and forecasting market trends, teaching stock-trading techniques, recommending specific stocks, and providing guidance on buying and selling points. Prices range from several hundred yuan to tens of thousands of yuan. Courses with higher prices often feature “teachers” who offer stock-recommendation services and provide hands-on guidance via live broadcasts and other interactive methods. In fact, these so-called “investor education” institutions and their supposedly “qualified teachers” do not possess any securities industry credentials or relevant professional expertise. Most of them rely on pre-scripted sales pitches to deceive investors, persuading them to buy courses and follow their instructions. Once investors suffer losses, these same operators deploy specialized scripts to trick them into paying more for upgraded courses. Furthermore, some unscrupulous operators, after investors have purchased “investor education” courses, ask them to download their proprietary stock-trading software, open accounts within the app, and transfer funds for stock trading. Investors then follow the “teachers’” instructions—but while topping up their accounts is easy, withdrawing funds proves extremely difficult, leaving investors struggling to recover their initial investments.
Currently, the China Investor Network (website: www.investor.gov.cn) and securities and futures investor education bases accredited by the China Securities Regulatory Commission (a list of which can be found on the China Investor Network) provide public-benefit investor education services to the general public. We urge all investors to remain vigilant, carefully discern the information they receive, and steer clear of illegal stock recommendation activities disguised as “investor education.” If you require securities investment advisory services, please choose securities companies or securities investment advisory institutions that hold the requisite securities investment advisory licenses (a list of such entities can be found under the “Regulated Entities” section on the CSRC’s website). Should you fall victim to illegal stock recommendation activities, please report them to your local CSRC bureau or file a complaint with the local public security authorities.
II. Be vigilant against illegal stock recommendation activities on online live-streaming platforms.
In recent years, “illegal stock recommendations” via traditional media such as television, radio, and newspapers have significantly declined; however, the practice of using online live-streaming platforms to make illegal stock recommendations has been on the rise. This phenomenon mainly manifests itself in the following way: Individuals or institutions set up live-streaming rooms on online platforms and become “anchors,” “streamers,” or “community leaders,” presenting themselves as “stock gurus,” “influential opinion leaders,” or “teachers.” They claim to have extensive investment experience and remarkable track records in real-world trading, attracting viewers with promises such as “sharing stock-picking techniques,” “identifying high-performing stocks,” and “recommending dark-horse stocks.” Under the guise of “expert guidance,” “big-shot market analysis,” or “famous analysts’ stock talks,” they promote and entice investors to recharge and purchase virtual currencies or gifts on the platform, such as “gold coins” and “flowers.” Through various monetization models—including “live-stream subscriptions,” “paid articles,” and “paid Q&A sessions”—they keep investors continuously paying fees. This new form of live-streamed stock recommendation is a cunning tactic that is highly persuasive. The streamers adopt multiple pseudonyms and maintain a secretive identity, making it often difficult for investors to see through their deceptive practices.
The aforementioned organizations and individuals frequently place advertisements and build popularity on portal websites, financial news sites, Weibo, stock forums, Douyin, and other platforms, while also reserving live-streaming addresses to drive traffic to live-streaming platforms. Once investors are lured in, they typically end up signing guidance agreements for stock trading or investment consulting contracts, paying hefty consultation or guidance fees—and sometimes even agreeing to high-proportion profit-sharing arrangements.
According to relevant national regulations, charging fees for stock recommendations via online live streaming constitutes an investment consulting activity. Without proper authorization, no organization or individual may engage in such activities. If livestreamers on live-streaming platforms provide paid stock recommendation services without having obtained the requisite qualification for investment consulting, or if they have obtained such qualification but are not currently practicing at an investment consulting firm or securities company, they are suspected of illegally engaging in investment consulting business. Furthermore, if the operating entities of the aforementioned livestreaming platforms have not obtained the necessary qualification for investment consulting services, they are suspected of illegally conducting securities-related business or providing convenience for illegal activities.
We would like to remind all investors that to obtain investment advice, please consult with securities companies or legally authorized securities investment advisory institutions. A list of these legitimate securities institutions can be found on the websites of the China Securities Regulatory Commission and the Securities Association of China. Please refrain from partnering with unqualified institutions and individuals, stay away from “illegal stock recommendations,” and avoid potential financial losses.
At the same time, all online live-streaming platforms are reminded that those without qualification to provide securities investment advisory services must not engage in any live-streaming activities recommending stocks. Those who have obtained such qualification must not provide convenience for unqualified institutions or individuals to engage in live-streaming stock recommendations.
III. Be Wary of Joint Deceptions by “Market Makers” and “Influencers” Targeting Investors
Recently, media reports have revealed that certain stocks are being manipulated by “big V” influencers collaborating with “market manipulators” to offload shares through deceptive stock recommendations. After investors fall for these scams and take the bait, stock prices plummet, leaving them with heavy losses. Investors need to be highly vigilant. The “market manipulators” team up with so-called “big V” influencers, “stock gurus,” “investment advisors,” and “experts,” taking advantage of individual investors’ penchant for insider information and their desire to make easy money by following established market players. They attract attention by adding investors as friends, then create stock-trading chat groups and live streaming platforms for stock recommendations, where they analyze the overall market and comment on specific stocks. Once they’ve gained investors’ trust, they lure them into buying at a fixed price and in full positions within a limited time frame, using claims such as “an insider stock is about to make a big move,” “certain hot-money funds have already arrived,” or “tens of thousands of investors are pooling resources to buy together and make profits.” In reality, these are just pretexts designed to get investors to buy in and serve as a cover for the manipulators to offload their own holdings. By the time investors realize the truth and the stock prices plunge, the chat groups and live-streaming platforms used for stock recommendations have already been shut down and cleared out, and the “market manipulators” and “big V” influencers have vanished without a trace.
Hereby, we solemnly remind all investors: there’s no such thing as a free lunch in this world. Those so-called “market manipulators” and “influential online personalities” who enthusiastically recommend stocks invariably have their own ulterior motives. Please be highly vigilant and maintain a rational investment mindset to avoid being deceived. The CSRC will continue to adopt a firm and stringent stance against illegal activities such as market manipulation and unauthorized stock recommendations. If any suspected criminal behavior is detected, it will be promptly referred to public security authorities for investigation and prosecution, and the perpetrators will be held criminally liable according to law.
Special Notice:
1. Stay away from stock recommendations via WeChat and live-streamed stock tips, and guard against online stock market scams.
2. Online stock groups carry risks, and illegal stock recommendations are fraught with traps.
3. Live-streamed stock recommendations are illegal, and blindly following them will only lead to being deceived.
4. Be vigilant against new types of online scams and guard against illegal stock recommendations from so-called “teachers,” key opinion leaders, and group members online.
5. Online “insider tips” are unreliable; sticking to rational investing is the right path.
6. Emphasize learning, focus on discernment, and stay away from stock market “black mouths,” “black groups,” “black apps,” and illegal stock recommendations.
7. Don't place blind faith in “insider information” or “market dark horses”; make rational judgments and invest cautiously.
8. Don't readily believe free stock-recommendation calls, text messages, WeChat messages, or live broadcasts; be vigilant against telecom fraud activities disguised as stock recommendations.
9. Adhere to rational investing, don't fall for deceptive marketing tactics such as pyramid schemes promoted via the internet or phone calls, stay away from illegal securities activities, and avoid being deceived.
10. Don't blindly trust “stock market gurus,” dispel the fantasy of “free lunch,” abandon the mindset of getting rich overnight, and stay away from the traps of fraudulent illegal securities activities.
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