During the process of Shanxi Star Semiconductor's application for IPO on the Science and Technology Innovation Board, inadequate diligence and responsibility were not exerted. As a result, the company was fined 2.28 million yuan by the China Securities Regulatory Commission.

China Securities Regulatory Commission Administrative Penalty Decision No. 134 [2025] shows that the CSRC has initiated an investigation into Shanghai Tongli Law Firm for their lack of diligence in providing legal services for the initial public offering (IPO) and listing of Shanghai Si'erxin Technology Co., Ltd. on the Science and Technology Innovation Board. Tongli and related personnel were found to have committed the following violations: providing false information in legal opinions and other documents issued for Si'erxin's IPO; lack of diligence in providing legal services for Si'erxin's IPO; inadequate execution of the client visitation process. Based on the facts, nature, circumstances, and social harm of the violations, in accordance with Article 213, Paragraph 3 of the Securities Law, the CSRC has decided: 1. Shanghai Tongli Law Firm is ordered to rectify their actions, confiscate 1.14 million yuan of income from Si'erxin's IPO legal services, and impose a fine of 1.14 million yuan. 2. Li Zhongying, Guo Xun, and Wang Xufeng are given warnings and fines of 200,000 yuan each.