Beijing Securities Regulatory Bureau: Beijing Kaixing Asset Management Co., Ltd. has been ordered to take corrective administrative supervision measures.

On February 13, the Beijing Securities Regulatory Bureau website announced a decision to implement administrative regulatory measures requiring Beijing Kaixing Asset Management Co., Ltd. to correct its behavior. Upon investigation, the Beijing Securities Regulatory Bureau found that the company had failed to fulfill its duty of honesty, trustworthiness, diligence and prudence in managing and using private fund assets. In accordance with regulations, the Beijing Securities Regulatory Bureau has decided to implement administrative regulatory measures requiring the company to correct its behavior.