The main banker is basically a concept, as we all know, there is no exact expression. Generally speaking, it refers to one or several people who have great influence on a stock (directly or indirectly controlling multiple shares) and are easy to control or influence the stock price. What I want to say here is that if there is evidence of stock price manipulation, it is illegal. Although the current illegal cost is still very low and the national crackdown is not strict, it is still a line.

Institution is a very broad concept, generally aimed at retail investors, that is, institutional investors and individual investors. Institutional investors are generally characterized by buying and selling stocks in the name of companies, with more funds and experience, and tend to invest for a long time. The general characteristics of retail investors are personal name, little capital and experience (universal significance), uneven level of securities knowledge and easy to follow suit. Typical institutions include fund companies, securities companies, large financial companies, banks, private equity funds and social security funds.

The concept of funds is also very broad. In the securities market, funds generally refer to institutions that raise funds from many people and invest in the securities market on their behalf, which are generally divided into Public Offering of Fund and private equity funds. Public Offering of Fund is supervised by China Securities Regulatory Commission, and private equity funds are mixed. The fund is definitely a kind of institutional investor, but it is not necessarily the banker or the main force. Because there are regulations in Public Offering of Fund, it is necessary to declare when opening an account, and the upper limit of shareholding ratio is set. Therefore, it is difficult for Public Offering of Fund to gain control of one or several stocks through public means, so it is difficult to become a banker or main force, but it does not rule out the situation of Public Offering of Fund holding a group. Private placement is hard to say, because it is not standardized and the form of activities is not open.