LEAGUER(SZ:002243) Zheng Quan Shi Bao·2025-11-13 02:30Core Viewpoint - Shenzhen's local financial management bureau has publicly announced a list of 553 entities that have improperly used terms like "financial holding" and "financial group" without approval, indicating a crackdown on unlicensed financial operations in the region [1][2]. Group 1: Regulatory Actions - The Shenzhen local financial management bureau requires the listed entities to apply for name changes or business scope adjustments within three months, ensuring that their names do not include unauthorized financial terms [2][3]. - Failure to comply with the rectification requirements will result in further regulatory measures from relevant departments [2]. Group 2: Background and Context - The crackdown follows the issuance of regulations by the Chinese government in September 2020, which established conditions and procedures for the establishment of financial holding companies [1]. - Many of the identified entities were established between 2013 and 2015, primarily located in the Qianhai Shenzhen-Hong Kong Cooperation Zone, indicating a significant presence of non-compliant firms in this area [1]. Group 3: Criteria for Financial Holding Companies - Entities must apply to establish a financial holding company if they meet certain asset thresholds, such as controlling financial institutions with total assets of at least RMB 500 billion or managing assets of at least RMB 5 billion [1]. - The regulations specify that companies without commercial banks must have total assets of at least RMB 100 billion or manage assets of RMB 5 billion to qualify for financial holding status [1].