It involved a placement of a huge sell order on three-year government bond futures shortly before the close of trading on 23 February.

[2][5] After the merger, the company was renamed to its current name, Shenwan Hongyuan and also became the second largest brokerage firm in China by market value at the time due to surge in stock price on its trading debut.

On 26 April 2019, Shenwan Hongyuan held an initial public offering for its H shares on the Hong Kong Stock Exchange.

[6] On 3 September 2020, the Securities and Futures Commission issued a restriction notice to Shenwan Hongyuan to freeze client accounts linked to suspected market manipulation.

[8] In March 2022, the China Securities Regulatory Commission fined Shenwan Hongyuan for improper management of compliance controls related to Ant Group.