On September 30th, the Intermediate people's Court of Yichun City, Jiangxi Province, held a public hearing and issued a first-instance verdict on the case of eight defendants, including Zhou Mengyi, who manipulated the securities market. The eight defendants were sentenced to fixed-term imprisonment of seven years to one year's imprisonment, suspended for one year, and fined from 1 million yuan to 50, 000 yuan. The illegal gains and their fruits of the above-mentioned defendants detained or frozen on the record shall be confiscated and turned over to the state treasury; the criminal instruments seized on the record shall be confiscated; and the illegal gains of the defendants that have not yet been recovered shall continue to be recovered.

The court found out that since 2017, the defendant Zhou Mou, in order to manipulate the "new third board" stock market for illegal benefits, collaborated with seven other defendants to make use of the four securities accounts under his actual control. by means of agreed trading manipulation, washing and selling manipulation, bewitching trading manipulation, manipulating the trading price and trading volume of many "new third board" stocks, such as "Hunan bamboo". Use marketing "tricks" or promised rebates to find cooperative agents to underwrite stocks in order to gain profit from the price difference. After accounting, Zhou and others made an illegal profit of more than 141 million yuan, of which Zhou repaid more than 129 million yuan to various agents.

The court held that the eight defendants colluded with others to trade securities with each other at a pre-agreed time, price and manner, or between accounts under their actual control, and made use of false or uncertain material information to induce investors to make investment decisions and affect securities trading prices or securities trading volume. The act of manipulating the securities market in the national share transfer system of small and medium-sized enterprises seriously undermines the fair and just market order, and the circumstances are particularly serious, which constitute the crime of manipulating the securities market. Taking into account the criminal facts of the defendants and their status, role and circumstances in the joint crime, the court made the above-mentioned judgment in accordance with the law.

It is reported that this is the first case in the country that the defendant who manipulated the "new third board" securities market was investigated for criminal responsibility for the crime of manipulating the securities market.