On 8 February 2025, CHI CSRC said it imposed a fine of RMB 6.1mn on Hehe Futures Co Ltd (Hehe) and revoked the futures business license of Hehe on 5 February 2025.

• Hehe failed to perform its management responsibilities for its subsidiary Hehe Asset Management (Shanghai) Co., Ltd, resulting in a major risk event in the subsidiary.
• Hehe failed to fulfill its takeover reporting obligations in accordance with relevant regulations.
• CHI CSRC explained in answers to reporters' questions, that client funds are protected.