Xiangcai Securities, a subsidiary of Xiangcai Co., Ltd. (600095.SH), plans to be fined 290,000 yuan and suspended the opening of a new securities account for 3 months

Zhitongcaijing · 2d ago

Zhitong Finance App News, Xiangcai Co., Ltd. (600095.SH) issued an announcement. The company's subsidiary, Xiangcai Securities Co., Ltd. (“Xiangcai Securities”), was filed by the China Securities Regulatory Commission on July 31, 2026 for allegedly violating the “Measures for the Administration of Securities Brokerage Business” relating to the real-name account system, etc. On September 24, 2026, the subsidiary Xiangcai Securities received the Hunan Securities Regulatory Bureau's “Advance Notice of Administrative Penalty” ([2026] No. 12) and the “Advance Notice Concerning the Supervisory and Administrative Measures against Xiangcai Securities Co., Ltd. ordering corrections, suspending the opening of new securities accounts for 3 months, and ordering the punishment of relevant personnel” (Xiang Securities Regulatory Agency [2026] No. 24).

The Hunan Securities Regulatory Bureau plans to decide: 1. Give a warning to Xiangcai Securities Co., Ltd. and impose a fine of 290,000 yuan; 2. Give a warning to Zhou Lefeng and fine 200,000 yuan; 3. Give a warning to Liang Zhen and fine 200,000 yuan; 4. Give a warning to Ding Jun and fine 190,000 yuan; 5. Give a warning and fine of 190,000 yuan to Qiu Yuqiang.

At the same time, due to the problems of inadequate implementation of internal controls related to brokerage business, inadequate implementation of management of abnormal customer trading behavior, inadequate management of information technology compliance and risk management, and inadequate management of clean employee practices, the Hunan Securities Regulatory Bureau plans to order the correction of Xiangcai Securities, suspend the opening of new securities accounts for 3 months, and order supervision and management measures to dispose of those responsible and report the results. During the suspension period, Xiangcai Securities will not be able to add new brokerage business customers; Zhou Lefeng, Qiu Yuqiang, Ding Jun, and Deng Gang each received advance notice of supervisory and administrative measures issued by the Hunan Securities Regulatory Bureau. It is proposed to adopt supervisory and management measures for supervisory discussions with the above personnel.