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The founder was also fined 1.25 million, and the regulatory attitude is very clear: operating without a license is not acceptable.
The CSRC plans to impose a total fine of approximately 1.85 billion RMB and confiscate illegal gains, with founder and CEO Li Hua proposed to be fined 1.25 million RMB.
The company states that the fines are still subject to subsequent procedures and the final decision of the CSRC.