2 月 13 日，天风证券股份有限公司（ 601162.SH ）公告收到中国证监会的《行政处罚事 先告知书》、《行政监管措施事先告知书》及《立案告知书》。 本报观察到， 本次所涉事 项主要为原民营股东时期造成的系列历史违规行为。值得注意的是，在立案调查初期，天风 证券即主动配合监管部门核查，并同步启动内部整改， 不影响公司现在及未来经营发展。 随着查处程序进入收官阶段，这一长期制约公司发展的历史遗留问题实现彻底终结。 据了解天风证券被立案调查以来，未回避、不遮掩，而是选择直面 原民营股东造成的系列 历史问题。在国有控股股东宏泰集团的指导下，公司迅速厘清问题边界，逐项制定整改方 案，不仅迅速追回违规占用资金，还系统重构公司治理与内控体系——包括将党委前置研究 讨论程序制度化、明确"三重一大"决策清单、建立覆盖全业务条线的合规审查机制，全面 强化公司合规经营和风险管理工作。 这种坦诚面对历史、坚决纠正错误的态度，也获得了市场的理解和认可，市场普遍认为此次 处罚落地有利于天风证券进一步夯实公司治理，提高合规风险管理水平，促使其稳健经营。 此次处罚及相关监管措施的内容与此前市场判断一致。 "这次处罚不是新风险的暴露， ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 责任编辑：常福强 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2月13日，天风证券（维权）股份有限公司（601162.SH）公告收到中国证监会的《行政处罚事先告知 书》、《行政监管措施事先告知书》及《立案告知书》。本报观察到，本次所涉事项主要为原民营股东 时期造成的系列历史违规行为。值得注意的是，在立案调查初期，天风证券即主动配合监管部门核查， 并同步启动内部整改，不影响公司现在及未来经营发展。随着查处程序进入收官阶段，这一长期制约公 司发展的历史遗留问题实现彻底终结。 据了解天风证券被立案调查以来，未回避、不遮掩，而是选择直面原民营股东造成的系列历史问题。在 国有控股股东宏泰集团的指导下，公司迅速厘清问题边界，逐项制定整改方案，不仅迅速追回违规占用 资金，还系统重构公司治理与内控体系——包括将党委前置研究讨论程序制度化、明确"三重一大"决策 清单、建立覆盖全业务条线的合规审查机制，全面强化公司合规经营和风险管理工作。 这种坦诚面对历史、坚决纠正错误的态度，也获得了市场的理解和认可，市场普遍认为此次处罚落地 ...

Core Viewpoint - Tianfeng Securities is addressing historical compliance issues stemming from past private ownership, with recent regulatory actions viewed as a conclusion to these long-standing problems, allowing the company to focus on compliance and business development moving forward [1][2]. Group 1: Regulatory Actions and Company Response - On February 13, Tianfeng Securities announced it received administrative penalty notices from the China Securities Regulatory Commission (CSRC) related to historical violations from its previous private ownership [1]. - The company has actively cooperated with regulatory investigations and initiated internal rectifications, which are not expected to impact its current and future operations [1]. - Under the guidance of its state-owned parent, Hongtai Group, Tianfeng has clarified issues and developed rectification plans, including enhancing governance and internal control systems [1]. Group 2: Business Strategy and Financial Outlook - Since 2023, following the acquisition by Hongtai Group, Tianfeng has focused on resolving historical issues while building future capabilities, aiming to create a new type of brokerage with strong management and performance [2]. - The company has supported nearly 930 billion yuan in financing for the real economy over the past three years, with over 120 billion yuan directed towards enterprises in Hubei [2]. - Tianfeng expects to achieve a net profit of 125 million to 185 million yuan for the year, marking a successful turnaround from previous losses [2]. Group 3: Market Perception and Industry Context - Industry insiders view the penalties not as burdens but as opportunities to rebuild trust, emphasizing the importance of acknowledging and correcting past mistakes [2]. - The current regulatory environment in the securities industry is characterized by stringent oversight, and Tianfeng's proactive approach to compliance and risk management is seen as a model for smaller brokerages to navigate historical risks [3].