Futu’s total revenue over the past 5 years is ≈ $7.845B.

If we estimate that 30% comes from users from mainland China, the estimated illegal gains are $2.354B; the company’s net assets are about $5.1B, and illegal gains account for 46% of net assets.
Tiger Securities’ total revenue is $1.754B; estimated illegal gains are $0.526B; net assets are $0.865B; illegal gains account for 61% of net assets.
Changqiao is not listed.
In addition, following common regulatory practice, illegal gains may be compounded with penalties of 1–10x.
They’re punishing as if it were bankruptcy… it’s blatant robbery.