Shanghai Tiancheng Asset Management issued a warning letter regarding unfair treatment of different fund assets managed.

NightAirdropper · 2026-04-09T13:19:40+00:00

The Shanghai Regulatory Bureau of the China Securities Regulatory Commission issued warning letters to Shanghai Tiancheng Investment Management Co., Ltd. and its executives Zhang Hongchao and Zhao Pengxiao for unfair treatment of different fund assets under their management and for failing to disclose material related-party transactions as required by the contract, violating relevant regulations.

NightAirdropper

2026-04-09 13:19:40

Abstract generation in progress

Blue Whale News, April 7—Recently, the China Securities Regulatory Commission’s Shanghai Regulatory Bureau issued an administrative regulatory measures decision letter, targeting Shanghai Tiancheng Investment Management Co., Ltd., Zhang Hongchao, and Zhao Pengxiao.

The decision letter shows that Shanghai Tiancheng Investment Management Co., Ltd. has the following facts: it unfairly treated different fund assets under its management; and some products failed to disclose to investors significant related-party transactions as agreed in the contract.

These actions violate the provisions of the Interim Measures for the Supervision and Administration of Private Investment Funds. As the legal representative, executive director, and general manager of Shanghai Tiancheng Investment Management Co., Ltd., and as private fund practitioners, Zhang Hongchao and investment manager Zhao Pengxiao failed to uphold professional ethics and conduct standards, in violation of the Interim Measures.

In response, the China Securities Regulatory Commission’s Shanghai Regulatory Bureau has decided to take administrative regulatory measures against Shanghai Tiancheng Investment Management Co., Ltd., Zhang Hongchao, and Zhao Pengxiao by issuing warning letters.

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