Zhejiang Securities Regulatory Bureau has taken measures to issue a warning letter to Wenzhou QiYuan Asset Management Co., Ltd.

The company has the following behaviors in the operation of private equity funds: 1. Using private equity products as external channels for lending; 2. Failure to fulfill the corresponding procedures and information disclosure as stipulated in the fund contract in related party transactions; 3. The total assets of some products exceed 200% of net assets; 4. Irregularities in the issuance and distribution of securities on the first-hand securities inquiry and allocation business of the stock exchange.