Tianfeng Securities has announced it is under investigation by the China Securities Regulatory Commission (CSRC) for alleged violations related to information disclosure and illegal financing. The CSRC has issued a formal notice of investigation, citing potential breaches of the Securities Law and Administrative Penalty Law. Analysts warn that if administrative penalties are imposed, the company could face negative impacts on its business operations and financing capabilities, potentially tightening liquidity. In a related development, Tianfeng Securities' wholly-owned subsidiary, Tianfeng International Securities and Futures Limited, has received approval from the Hong Kong Securities and Futures Commission to obtain a Type 3 license. This license allows the subsidiary to offer virtual asset trading services through omnibus account arrangements.