Panyao Asset: Plans to purchase its own fund products with no less than RMB 10 million

On November 1, Shanghai Panyao Asset Management Co., Ltd. announced that capital market volatility has increased recently. Based on confidence in the long-term healthy and stable development of China's capital market, as well as trust in the company's investment research and risk control systems, the company has decided after research that, within a reasonable period from the date of this announcement, the company will use no less than RMB 10 million of its own funds to subscribe for fund products managed by the company.