TF Securities(SH:601162) 第一财经·2025-12-01 05:22Core Viewpoint - Tianfeng Securities is facing a significant decline in stock price due to a regulatory investigation related to information disclosure violations and illegal financing practices [3][4]. Financial Performance - In the first three quarters of the year, Tianfeng Securities achieved revenue of 2.112 billion yuan, representing a year-on-year increase of 57.53%, and a net profit attributable to shareholders of 153 million yuan, marking a turnaround from losses [4]. Shareholding Structure - As of the end of the third quarter, Hubei Hongtai Group holds 2.854 billion shares of Tianfeng Securities, accounting for 28.14% of the total shares, making it the controlling shareholder [4]. - In late June, Tianfeng Securities completed a 4 billion yuan private placement, fully subscribed by Hongtai Group, which increased its shareholding to 28.14% and the combined holding with its concerted parties to 35.65% [4]. - Other significant shareholders include Shanghai Tianhe Investment with 132 million shares (1.3% stake) and Hong Kong Central Clearing Limited with 96.66 million shares (0.95% stake) [4]. - Foreign investment activity includes UBS, which held 87.85 million shares (0.87% stake) as of June 30 but exited the top ten shareholders by September 30 [4].