On December 25, the SiChuan Securities Regulatory Bureau issued a decision to take administrative regulatory measures against Chuan Cai Securities by issuing a warning letter. It was disclosed that Chuan Cai Securities has the following problems: First, the number of internal directors accounts for more than 1/5 of the total number of directors, but the number of independent directors is less than 1/4 of the total number of directors; the supervisor recommended by the Shareholder China Huadian Corporation Capital Operation Holdings Co., Ltd. exceeds 1/3 of the members of the supervisory board. Second, the election of the company's directors and supervisors did not use a cumulative voting system. Third, the company has not established a performance evaluation and compensation management system for directors and supervisors.