Odaily Planet Daily reports: Caixin published an article today titled, “Big V ‘White Hair Stock God’ Promotes Cross-Border Stocks—Mentioning a 20% Limit-Up? Beware of Information Backflow.” The article points out that behind the two 20% limit-ups triggered by “White Hair Stock God” Serenity, beyond speculation about the true identity of the big V, a more alarming phenomenon is emerging that demands heightened vigilance from the entire A-share market: cross-border information backflow. “Information backflow” refers to the practice by which domestic interest groups or speculative capital exploit regulatory gray zones and information asymmetries between domestic and overseas markets, using foreign social platforms as “packaging factories” and “megaphones” to repurpose small-scale promotional content and deliberately disseminate it back into domestic communities, thereby precisely manipulating A-share stock prices.
Due to long-term strict crackdowns by domestic regulators on illegal stock recommendations, black-market supply chains, and "black mouth" rumor posts, the traditional domestic space for illegal stock promotion has been drastically reduced. As a result, the profit chain has begun extending overseas, with the ultimate goal of capital extraction. Concerningly, screenshots of private messages leaked from online communities show that domestic interested parties have already attempted to pay overseas influencers to specifically promote domestic assets. This indicates a dangerous trend toward the institutionalization, commercialization, and industrialization of cross-border "information backflow."