天风证券诉前副总裁案二审开庭，半月前公司遭证监会立案

Core Viewpoint - The ongoing legal dispute between Tianfeng Securities and its former vice president Guo Shengbei has resurfaced, highlighting historical issues within the company and attracting public attention due to recent regulatory scrutiny [2][4][10]. Group 1: Legal Proceedings - Tianfeng Securities Shanghai Proprietary Division has filed a labor contract dispute case against Guo Shengbei, with the hearing scheduled for December 11, 2025, at the Shanghai First Intermediate People's Court [2][3]. - The case number is (2025) Hu 01 Min Zhong 12766, and it is being handled by the Civil Trial Court [3]. Group 2: Background of the Dispute - Guo Shengbei publicly questioned Tianfeng Securities' internal issues in August 2023, targeting former chairman Yu Lei and former executive vice president Zhai Chenxi, and reported his findings to the China Securities Regulatory Commission (CSRC) [4][10]. - Tianfeng Securities disclosed in November 2025 that it was under investigation by the CSRC, coinciding with reports of Yu Lei and Zhai Chenxi going missing [4][10]. Group 3: Financial Performance and Management Issues - Guo Shengbei's departure from Tianfeng Securities in July 2022 was followed by a significant profit decline, with the company projecting an 85% year-on-year decrease in net profit for the first half of 2022, attributed to a drop in proprietary business income [6][7]. - Guo Shengbei claims he became a scapegoat for the company's losses, asserting that he had suggested reducing exposure to credit bonds, which was opposed by higher management [8][10]. Group 4: Compensation and Internal Policies - Following the financial losses, Tianfeng Securities issued a "Responsibility Decision" that included a 40% salary reduction for Guo Shengbei and the withholding of bonuses, which he later contested [7][8]. - Guo Shengbei's public letter revealed that he had reported the company's internal issues to the CSRC, indicating ongoing concerns about the company's management practices [9][11]. Group 5: Regulatory Scrutiny and Historical Context - The CSRC's investigation into Tianfeng Securities is linked to historical issues with its former major shareholder, the "Contemporary System," raising concerns about the company's governance and compliance [10][11]. - The investigation coincides with the disappearance of former executives Yu Lei and Zhai Chenxi, further complicating the company's situation [10].