
Tianfeng Securities received the "Notification of Case Filing" from the China Securities Regulatory Commission on November 28, 2025, and the "Advance Notice of Administrative Penalty" (E Pension Zi [2026] No. 7) issued by the Hubei Supervision Bureau of the China Securities Regulatory Commission on February 13, 2026.

[The China Securities Regulatory Commission issued two more fines and Li Anda Shanghai Baoyin was fined] Two recent cases were punished, one case involving an intermediary agency violating laws and regulations, and one case involving information disclosure violations. First

Since the beginning of this year, regulatory authorities have continued to use "zero tolerance" to crack down on various illegal activities in the capital market and strengthen law enforcement and deterrence. According to statistics from the China Securities Regulatory Commission website, the China Securities Regulatory Commission and local securities regulatory bureaus issued 181 administrative penalty decisions (hereinafter referred to as fines) in the first half of the year.