Multidimensional coordinated strict supervision to build a strong defense line for fair trading in the capital market.

The "Number 1 Penalty" issued by the China Securities Regulatory Commission this year directly targets market manipulation behavior, imposing fines of over 1 billion yuan on individual Yu Han for manipulating the stock price of "PhD Glasses"; the Zhejiang Securities Regulatory Bureau has launched an investigation into the Sunflower restructuring plan for suspected misleading statements; the Shenzhen Stock Exchange is closely monitoring *ST Lefang and *ST Changyao, which have been filed by the China Securities Regulatory Commission for suspected false financial data recording... Recently, a series of regulatory cases have been intensively disclosed, demonstrating the regulatory authority's resolute attitude of "zero tolerance" towards market violations, sending a clear signal of strengthening trading supervision, maintaining market fairness, and preventing extreme fluctuations. From administrative penalties to criminal accountability, from targeted crackdowns to platform governance, regulatory authorities are building a multi-dimensional, three-dimensional regulatory network, striving to create a long-term governance structure of "dare not violate, cannot violate, do not want to violate", and pushing for continuous purification of the market ecosystem through the enhancement of regulatory efficiency.