From July 9 to 10, Professor Zhu Yinglun from the School of International Economics was invited by Lingnan College of Sun Yat-sen University, the China Finance Annual Conference, and the editorial board of the Quarterly Journal of Finance to attend the "Financial Services for the Real Economy—The First Forum of the Quarterly Journal of Finance". This forum, themed "Financial Services for the Real Economy", featured keynote speeches by Professor Chen Yunxian, former Vice Governor of Guangdong Province and founder of GF Securities; Professor Evgeny Lyandres, co-editor-in-chief of the Journal of Corporate Finance; Professor Xin (Simba) Chang, Vice Dean of the Business School at Nanyang Technological University; and Professor Chen Donghua, Director of the Department of Social Sciences at Nanjing University.

The forum selected three award-winning papers from the 2022 Financial Quarterly and four outstanding reviewers. Editor-in-Chief Yang Jinqiang presented awards to the winning authors and reviewers, while Professor Zhu Yinglun delivered a acceptance speech on behalf of the award-winning papers. Scholars from prestigious institutions including Fudan University, Southern University of Science and Technology, Qingdao Agricultural University, Shanghai University of Finance and Economics, Sun Yat-sen University, Huazhong University of Science and Technology, Renmin University of China, Zhongnan University of Economics and Law, Northeast Normal University, Tsinghua University, Zhejiang University, Harbin Institute of Technology (Shenzhen), Jinan University, Peking University, Dongbei University of Finance and Economics, Shandong University, Southwestern University of Finance and Economics, Hunan University, Xiamen University, Sichuan University, Guangdong University of Technology, Zhejiang Gongshang University, and Capital University of Economics and Business conducted academic discussions in parallel forums on topics such as digital finance, financial markets and the real economy, institutional investors and financial stability, new research methods in finance, and financial markets and green finance.

In his July 10 morning presentation, Professor Zhu Yinglun introduced his award-winning paper titled "Li Kui vs. Li Gui: A Study on Stock Price Performance After Price Limit Manipulation." The research investigates the impact of price limit manipulation on stock prices, utilizing manually collected penalty cases from the China Securities Regulatory Commission (CSRC). By comparing the stock price performance of manipulated stocks with those of natural limit-up stocks on the manipulation date, the study found that manipulated stocks exhibited poor short-term and long-term returns, demonstrating that manipulation indeed distorts stock prices. Professor Zhu expressed gratitude to the editorial team and reviewers of the *Quarterly Journal of Finance* for their recognition. He pledged to continue his research on trending topics in the capital market driven by his interests and wished the *Quarterly Journal of Finance* continued success and new achievements.

Professor Zhu Yingluns research focuses on the predictability of returns in Chinas capital market, stock price anomalies, and investor behavior biases caused by behavioral finance. His research findings have been published in multiple core journals both domestically and internationally, including Emerging Markets Finance and Trade (SSCI), Australian Economic Papers (SSCI, FMS high-quality journal), and Financial Quarterly.