Tiger Brokers: One-time expense will not have a material adverse impact on the company's operations or long-term development

Odaily Planet Daily News Tiger Brokers (TIGR.O): Recently, on May 22, the China Securities Regulatory Commission (CSRC) Beijing Regulatory Bureau imposed administrative penalties on some of the company's subsidiaries and ordered the confiscation of illegal gains, totaling approximately RMB 411 million (about USD 59.7 million). The relevant penalties stem from the subsidiaries' operation of unlicensed cross-border securities businesses within China, as well as illegal activities involving fund and futures businesses. The company sincerely accepts the penalties and has confirmed them as a significant matter after the first quarter. Considering the company's overall profitability and cash flow situation, this one-time expense will not have a material adverse impact on the company's business operations or long-term development. (Jinshi)