[TF Securities Under Investigation by CSRC, Subsidiary Obtains Hong Kong Virtual Asset Trading License] TF Securities announced that the China Securities Regulatory Commission (CSRC) has issued a 'Notice of Investigation.' Due to suspected violations of information disclosure regulations and illegal provision of financing, the CSRC has decided to investigate TF Securities. A non-bank analyst believes that if TF Securities is ultimately subjected to administrative penalties, the company's business operations and financing may be negatively impacted, and liquidity could face pressure. Previously, TF Securities disclosed that its wholly-owned subsidiary, TF International Securities and Futures Limited, had been approved by the Hong Kong Securities and Futures Commission (SFC) to obtain a Type 3 virtual asset-related license, allowing it to provide virtual asset trading services through an omnibus account arrangement.