The China Securities Regulatory Commission (CSRC) has issued a penalty decision. An investigation found that Hu Bo engaged in the following illegal activities: Since August 2023, Hu Bo controlled and used Sina Weibo accounts, including "Jack Captain Macro Strategy" and "Jack Captain Macro Strategy Gossip," to fabricate and disseminate false or misleading information concerning capital market regulatory developments and policies. This activity disrupted the securities market.

The CSRC has decided to impose a fine of 800,000 yuan on Hu Bo. Additionally, Hu Bo has been subjected to a three-year ban from the securities market.

According to the administrative penalty decision document, the CSRC investigated the case in accordance with the Securities Law of the People's Republic of China. The party involved was informed of the facts, reasons, and basis for the penalty, as well as their rights. Hu Bo did not present a defense or statement, nor did they request a hearing. The case is now closed.

The investigation confirmed that Hu Bo controlled the mentioned Weibo accounts to spread fabricated or misleading information about market regulation, which disturbed the securities market. Evidence, including inquiry transcripts, social media platform data, device information, and WeChat group screenshots, substantiates these violations.

Hu Bo's actions violated Article 56, Paragraph 1 of the Securities Law, constituting the fabrication and dissemination of false information as described in Article 193, Paragraph 1. Based on the facts, nature, circumstances, and societal harm of the violations, and pursuant to Article 193, Paragraph 1, the CSRC decided to levy the 800,000 yuan fine.

Given the severity of the violations, and in accordance with Article 221 of the Securities Law and relevant provisions of the Market Entry Ban Rules, the CSRC also imposed a three-year securities market ban. Effective from the announcement date, during the ban period, Hu Bo is prohibited from engaging in securities business or services in any institution, and from holding positions as a director, supervisor, or senior manager at any securities issuer.

The fined individual must pay the penalty directly to the state treasury within 15 days of receiving the decision, following the specified payment instructions. A copy of the payment proof must be submitted to the CSRC's Administrative Penalty Committee office.

If dissatisfied with the decision, the party may apply for administrative reconsideration within 60 days or file a lawsuit with a competent court within six months. The penalty measures will be enforced during any review or litigation process.