Tiger Securities: Subsidiary fined RMB 308.1 million by Beijing regulatory authorities It was announced to Shanghai Rongke (formerly Tiger Securities) that some subsidiaries of the company received a notice from the China Securities Regulatory Commission (CSRC) Beijing Regulatory Bureau today, indicating that the CSRC Beijing Regulatory Bureau has investigated their illegal activities suspected of engaging in securities, funds and futures business, and found that these subsidiaries have engaged in unlicensed cross-border securities business and funds and futures related illegal activities in Chinese Mainland. According to the investigation results, the Beijing Regulatory Bureau of the China Securities Regulatory Commission imposed administrative penalties totaling approximately 308.1 million yuan and confiscated illegal gains totaling approximately 103.1 million yuan. Mr. Wu Tianhua, the director, CEO, and actual controller of the company, has also received a warning and been fined 1.25 million RMB. By the end of 2025, the assets of retail customers in Chinese Mainland accounted for about 10% of the company's total customer assets in the company's consolidated statements.