客户频繁发生异常交易，东莞证券被予以书面警示

Group 1 - The Shanghai Stock Exchange issued a written warning to Dongguan Securities for failing to effectively manage client trading behaviors, despite previous self-regulatory measures [2][4][5] - Dongguan Securities is currently planning an IPO and reported a net income of 715 million yuan from securities trading fees in the first half of 2025, a year-on-year increase of 65.22%, accounting for nearly 50% of its total revenue [2][6] - The company has faced multiple regulatory actions due to frequent abnormal trading behaviors by clients, which include false declarations and significant price fluctuations [4][5] Group 2 - Dongguan Securities is in the process of listing on the Shenzhen Stock Exchange, with its IPO application currently accepted [6] - The average commission rates for securities trading have been declining, with industry averages of 0.205‰, 0.197‰, and 0.182‰ for 2023, 2024, and the first half of 2025, respectively, while Dongguan Securities' rates were higher at 0.223‰, 0.225‰, and 0.215‰ during the same periods [6] - The company derives 54.13% of its net income from securities trading fees from its business network in Dongguan, indicating a strong reliance on the local market [7]