Zhejiang Securities Regulatory Bureau issues a warning letter to Yinwan Private Equity: Some products exhibit channel business characteristics and have abnormal trading behaviors such as self-buying and self-selling stocks.

Zhejiang Securities Regulatory Bureau issues a decision to issue a warning letter to Zhejiang Yinwan Private Fund Management Co., Ltd. After investigation, the company was found to have the following behaviors in its private fund business:

1. Some products exhibit channel business characteristics, with insufficient active management, and some investment decisions are made by others.
2. Entrusting third parties without fund investment advisory qualifications to provide investment advice.
3. Entrusting third parties without fund sales qualifications to carry out fundraising activities.
4. When reducing stock holdings through block trades, some products did not clarify the nature of the relevant shares to the actual transferees according to relevant regulations.
5. Inadequate internal control systems, with some products engaging in abnormal trading behaviors such as self-buying and self-selling stocks.
6. Engaging in activities unrelated to private funds, introducing client resources to other companies.
7. The investment scope on some trading days for some products does not comply with the contractual agreement.
8. Failing to strictly implement investor suitability procedures.