Peng Shaodong was fined over 37 million yuan for manipulating the securities market.

According to the China Securities Regulatory Commission, Peng Shaodong was investigated by the commission for manipulating the securities market. Between June and November 2022, Peng Shaodong manipulated the market by controlling 9 securities accounts, artificially inflating stock prices, making false declarations, and illegally profiting more than 12.54 million yuan. The commission deemed his actions to violate the Securities Law and decided to confiscate his illegal gains and impose a double fine, totaling more than 37 million yuan. Peng Shaodong appealed this decision, requesting a reduction in punishment, but it was not accepted, and the commission upheld the original penalty decision.