Huichao Payment was fined 34.2216 million yuan.

On June 26, the Administrative Penalty Decision Information Publicity Form disclosed by the Shanghai Branch of the People's Bank of China revealed that Hui Chao Payment Co., Ltd. was warned, criticized, had illegal gains of 6,909,151.34 yuan confiscated, and was fined 27,312,454.01 yuan. The types of illegal behaviors involved include: violation of clearing management regulations; violation of account management regulations; violation of merchant management regulations; and failure to truthfully provide law enforcement inspection materials. At the same time, the person in charge of Hui Chao Payment, Yang, is responsible for the violations of clearing management regulations and merchant management regulations, warned and fined 470,000 yuan.