The China Securities Regulatory Commission: Strictly crack down on malicious fraud such as fictitious businesses and abuse of accounting policies.

Vice Chairman of the CSRC, Chen Huaping: Strengthen the binding of interests between Fund companies and investors, and focus on solving issues such as guaranteed returns regardless of market conditions.

Vice Chairman of the China Securities Regulatory Commission, Chen Huaping: Effective protection of investor rights must be built on a solid foundation of high-quality development in the Capital Markets. The CSRC always practices the principle of finance for the people, fully launching and implementing a new round of Capital Markets reform, promoting high-quality development in the Capital Markets, and swiftly introducing a package of policy measures to deepen the reforms of the Star and GEM, further enhancing the inclusiveness and adaptability of the system, boosting support for Technology innovation and the development of new productivity, and working with various parties to effectively implement a "combinatorial strike" of stable market policies, ensuring the increase in the scale and proportion of medium and long-term funds entering the market, while continuously releasing new growth vitality based on stability and enhancing investor confidence. Recently, the annual report disclosures of listed companies have wrapped up, with over 5,400 companies disclosing their 2024 annual reports, nearly 70% announced dividends, totaling 2.39 trillion yuan in dividends, setting a new historical high. We will continue to increase policy support, guiding listed companies to actively use methods such as cash dividends and share buybacks to return value to investors, effectively enhancing investors' sense of gain.