[Zong, a securities practitioner, fabricated and spread false information The China Securities Regulatory Commission imposed penalties such as a five-year market ban on him] On September 11, the China Securities Regulatory Commission issued an administrative penalty decision [2026] No. 37, which showed that the China Securities Regulatory Commission launched an investigation into the party Zong Jianshu’s fabrication and dissemination of false information. , it was found that the parties involved had the following illegal facts: 1. Zong Jianshu fabricated and spread false information. On December 16, 2025, Zong Jianshu fabricated information related to tax rate adjustment and published it in the WeChat group; after investigation, the above information was found to be false information. 2. False information disrupted the securities market. Zong Jianshu, as a securities practitioner, failed to perform the necessary duty of care and fabricated and spread false information without considering and verifying the authenticity of the relevant information, causing false information to be widely spread on the Internet platform and disrupting the securities market. Zong Jianshu had no illegal gains from the above behavior. The China Securities Regulatory Commission believes that Zong Jianshu’s above-mentioned behavior violated the provisions of Article 56, paragraph 1, of the Securities Law, and constituted the fabrication and dissemination of false information as described in Article 193, paragraph 1, of the Securities Law. In view that the public security organs have imposed administrative penalties of fines on Zong Jianshu, in accordance with the provisions of Article 29 of the Administrative Punishment Law of the People's Republic of China, the China Securities Regulatory Commission will no longer impose administrative penalties of fines on Zong Jianshu's related illegal acts. The China Securities Regulatory Commission decided to impose a five-year market ban on Zong Jianshu. From the date of the announcement of the decision, during the ban period, Zong Jianshu shall not continue to engage in securities business, securities service business, or serve as a director, supervisor, or senior manager of the original securities issuer in the original institution, nor may he engage in securities business, securities service business, or serve as a director, supervisor, or senior manager of other securities issuers in any other institution.