Group 1 - The company held its 10th meeting of the 9th Supervisory Board on June 13, 2025, via communication methods, with all procedures complying with the Company Law and the company's articles of association [1][2] - The Supervisory Board approved amendments to the company's articles of association and related rules, which will be submitted for shareholder meeting approval [1][2] - The board agreed to reappoint Sichuan Huaxin (Group) Accounting Firm for annual audit services, citing their qualifications and independence [2] Group 2 - The Supervisory Board approved the use of surplus funds from a completed fundraising project to permanently supplement the company's working capital, which will also be submitted for shareholder meeting approval [2] - The voting results for all proposals were unanimous, with 5 votes in favor and no opposition or abstentions [2]

Group 1: Quantitative Trading Regulation - The article emphasizes the importance of enhancing risk control in quantitative trading while maintaining its role in improving market liquidity and stability [1] - It suggests increasing the capital requirements and entry thresholds for high-frequency trading strategies, proposing a "license + filing" dual-track system for regulation [1] Group 2: Shareholder Reduction Mechanism - The article discusses optimizing the regulatory mechanism for major shareholders' reduction of shares, advocating for differentiated supervision for strategic investors and controlling shareholders [2] - It proposes relaxing reduction restrictions for strategic investments to facilitate timely exits and promote a healthy cycle of fundraising, investment, management, and exit [2] - The article recommends linking share buybacks and dividends to the reduction of shares by controlling shareholders to protect the interests of minority investors [2] Group 3: ETF Market Development - The article suggests relaxing or eliminating the requirements for public funds regarding the fundraising amount and the number of fund holders for ETF listings to promote market growth [3] - It proposes allowing ETFs to be established and listed directly, exempting them from holder number and fundraising scale requirements, with market makers providing liquidity [3]