On July 26, 2006, our office was entrusted by the China Securities Regulatory Commission to establish an administrative liquidation team to be responsible for the administrative liquidation of Zhongfu Securities Co., Ltd., one of the Delong families. Lawyer Wang Mingtao was appointed as the leader of the administrative liquidation team, exercising the duties of the legal representative of Zhongfu Securities Company, and responsible for the overall work of the administrative liquidation. After nearly a year of hard work, on July 2, 2007, the China Securities Regulatory Commission approved the application of Zhongfu Securities for judicial bankruptcy transfer. Currently, the Shanghai Second Intermediate People's Court has reviewed the bankruptcy application materials of Zhongfu Securities, and the proposed acceptance of the application will be submitted to the Shanghai High Court for review and approval by the Supreme People's Court. Zhongfu Securities will officially enter the judicial acceptance and bankruptcy stage. Zhongfu Securities will become the only securities company among the 31 high-risk disposal securities companies to complete administrative liquidation within one year.

(This article is translated by software translator for reference only.)