Tiger Brokers: One-time expenditure 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 announced that on May 22, the Beijing Regulatory Bureau of the China Securities Regulatory Commission imposed administrative penalties on certain subsidiaries of the company and ordered the confiscation of illegal gains, totaling approximately 411 million RMB (about 59.7 million USD). The relevant penalties stem from certain subsidiaries engaging in unauthorized cross-border securities business within China, as well as illegal activities involving fund and futures businesses. The company sincerely accepts the penalties and has recognized them as a significant matter after the first quarter. Considering the company's overall profitability and cash flow situation, this one-time expenditure will not have a material adverse impact on the company's business operations or long-term development. (Jin Shi)