Guotai Haitong Asset Management clarifies false online information: It has never conducted transactions with private equity funds as counterparties.

Recently, rumors have circulated online regarding "a certain institution entrusting funds to a certain company for investment advisory management, entering into negotiated repurchase agreements with private funds, and defaulting on repurchases." In response, Guotai Haitong Asset Management issued an announcement on November 14 clarifying that the online content is unrelated to Shanghai Guotai Haitong Securities Asset Management Co., Ltd., and that the business described online was not conducted by Guotai Haitong Asset Management. Guotai Haitong Asset Management has long prohibited any form of cash bond or repurchase business with private funds, and has never conducted transactions with private funds as counterparties. Guotai Haitong Asset Management adheres to independent investment decision-making and execution, and has established strict access, approval, and risk control mechanisms. The business situations described online do not exist.