Dehehantong Law Offices

On January 20, 2026, the "2025 Annual Power List of Law New Agency: Top 20 Recommended Lawyers by Clients (Yangtze River Delta)" was officially released. Guo Xianhao, the managing partner of the Shanghai office of Dehehantong and the head of the internal review committee for securities projects of Dehehantong, made it onto the list.

In recent years, the process of legal reform in the capital market has accelerated, and the regulatory signal of zero tolerance for financial fraud has been continuously strengthened. The investigations of landmark cases such as Kangmei Pharmaceutical and Zanzhai Island have clearly delineated the extensive legal net for administrative, criminal and civil accountability. This article will, through the review of typical judicial cases, focus on analyzing the core logic, evidence transformation path and key challenges in current accountability practices for financial fraud from administrative determination to criminal prosecution, aiming to provide guidance for all market participants in understanding and responding to the legal risks of financial fraud.

Recently, Dehehantong assisted Zhuhai Hengqin Xunzhen Private Equity Management Co., Ltd. (hereinafter referred to as "Xunzhen Fund") in successfully completing the registration as a private fund manager with the China Securities Investment Fund Association. The registration institution type is a private securities investment fund manager.

In July 2025, during an internal inspection of a company in Shanghai, it was discovered that an algorithm engineer named Liu Mou, by taking advantage of database query permissions, exported the order information of takeout customers (name, mobile phone number, and address) and sold it to overseas buyers via Telegram.