On September 4, the fines disclosed by the Shenzhen Financial Supervisory Authority showed that Tongfang Global Life Insurance Co., Ltd. and related responsible persons were fined for granting non-contractual benefits, failure to use registered insurance rates in accordance with regulations, uncompliant propaganda, and untrue business financial data. According to the fines, the Shenzhen Financial Supervisory Authority fined Tongfang Global Life Insurance 1.3 million yuan; gave a warning and fined 70,000 yuan to Wu Shuo, Wang Chaopeng, and Liu Jiejing; gave a warning and fine of 40,000 yuan to Xu Haixia; gave a warning and fine of 10,000 yuan to Guo Xin; and gave a warning and fine of 80,000 yuan to Wan Bin. In response, Tongfang Global Life Insurance said that in response to the issues disclosed by the Shenzhen Financial Supervisory Authority, the company insisted on implementing reforms and had implemented the rectification requirements item by item. “This administrative penalty will not have a significant impact on the company's operations. In the future, the company will strictly abide by laws, regulations and regulatory requirements, consolidate compliance management responsibilities, continue to strengthen internal control construction, and ensure the steady operation of the enterprise.” Tongfang Global Life Insurance said.

On September 4, the fines disclosed by the Shenzhen Financial Supervisory Authority showed that Tongfang Global Life Insurance Co., Ltd. and related responsible persons were fined for granting non-contractual benefits, failure to use registered insurance rates in accordance with regulations, uncompliant propaganda, and untrue business financial data. According to the fines, the Shenzhen Financial Supervisory Authority fined Tongfang Global Life Insurance 1.3 million yuan; gave a warning and fined 70,000 yuan to Wu Shuo, Wang Chaopeng, and Liu Jiejing; gave a warning and fine of 40,000 yuan to Xu Haixia; gave a warning and fine of 10,000 yuan to Guo Xin; and gave a warning and fine of 80,000 yuan to Wan Bin. In response, Tongfang Global Life Insurance said that in response to the issues disclosed by the Shenzhen Financial Supervisory Authority, the company insisted on implementing reforms and had implemented the rectification requirements item by item. “This administrative penalty will not have a significant impact on the company's operations. In the future, the company will strictly abide by laws, regulations and regulatory requirements, consolidate compliance management responsibilities, continue to strengthen internal control construction, and ensure the steady operation of the enterprise.” Tongfang Global Life Insurance said.