Tiger Brokers announced that it has been fined approximately RMB 411 million (US$59.7 million) by the Beijing Regulatory Bureau of the China Securities Regulatory Commission. The penalties were imposed on May 22nd due to unlicensed cross-border securities activities and illegal fund and futures business conducted by some of its subsidiaries. Despite the significant financial penalty, Tiger Brokers stated that this one-time expenditure will not adversely affect its operations or long-term development. The company emphasized its strong profitability and cash flow position, indicating confidence in its ability to absorb the impact without disrupting its business trajectory.