Beijing Securities Regulatory Bureau issues a warning letter to Zhou Guofeng: without a qualification of financial advisor, live analysis of securities market trend, and providing investment advice.

On July 17, the Beijing Securities Regulatory Bureau issued a decision to issue a warning letter as an administrative supervision measure to Zhou Guofeng. Upon investigation, it was found that Zhou Guofeng was not registered with the China Securities Industry Association as a securities investment advisor, but engaged in activities such as analyzing the stock market trends and providing securities investment advice during live broadcasts. Such actions violate Article 7 of the "Interim Regulations on Securities Investment Advisory Business". In accordance with Article 32 of the "Interim Regulations on Securities Investment Advisory Business", the Beijing Securities Regulatory Bureau has decided to issue a warning letter to Zhou Guofeng as an administrative supervision measure.