Core Viewpoint - Guangdong Provincial Academy of Building Research Group Co., Ltd. (hereinafter referred to as "Guangdong Jian Ke") is preparing for its initial public offering (IPO) on the ChiNext board, with a focus on providing high-tech services in the construction engineering field, particularly in inspection and testing [1][2]. Group 1: Company Overview - The registered capital of Guangdong Jian Ke is 31.39 million yuan, and it was established on December 25, 2013, with its shares incorporated on December 16, 2014 [1]. - The company is recognized as a large-scale construction technology service provider in Guangdong Province and has received multiple national honors, including "National High-tech Enterprise" and "National Model Enterprise for Scientific and Technological Reform" [2][3]. Group 2: Main Business and Services - Guangdong Jian Ke's primary business involves inspection and testing technology services in the construction engineering sector, which is a key area supported by the national government [3][4]. - The company has developed over 4,100 recognized testing standards and holds various qualifications, including comprehensive Class A qualifications for highway engineering and all five categories of Class A qualifications for water conservancy engineering [3][4]. Group 3: Technological Capabilities - The company emphasizes technological research and development, having established multiple provincial and national-level innovation platforms, including the only national green building quality inspection and testing center in South China [5][6]. - Guangdong Jian Ke has participated in over 20 national scientific and technological projects and has received 89 national and provincial-level scientific and technological awards [6][7]. Group 4: Industry Impact and Recognition - The company has provided inspection and testing services for major projects such as the Hong Kong-Zhuhai-Macao Bridge and Guangzhou Baiyun International Airport, contributing to significant economic and social benefits [6][7]. - Guangdong Jian Ke has been awarded titles such as "National AAA Credit Enterprise in the Construction Industry" and "National Green Building Pioneer Award," reflecting its strong reputation in the industry [6][7].

Core Viewpoint - The recent internal conflict at Jingqi Investment has escalated, involving allegations of financial misconduct and mismanagement, with the company’s founder and fund manager Fan Siqi at the center of the controversy [2][3][4]. Group 1: Company Operations and Allegations - Jingqi Investment's basic account experienced a significant abnormal fund transfer on July 2, which has severely impacted the company's financial operations [3]. - The company claims that there have been illegal uses of forged corporate seals and unauthorized actions regarding fund establishment and liquidation, implicating its custodian, China Merchants Securities, for failing to fulfill its due diligence obligations [4]. - Jingqi Investment has filed formal complaints with the China Securities Regulatory Commission and the Asset Management Association of China regarding these allegations [4]. Group 2: Management Disputes - The company is currently undergoing a change in its legal representative, with Fan Siqi allegedly using his authority to alter the management of the company's WeChat account during this transition [6]. - There are conflicting narratives between the founders, with Fan Siqi asserting that he was unfairly removed from his positions and that his actions were in defense of the company [5][6]. - The other founder, Tang Jingren, claims that Fan Siqi has not been involved in the company's daily operations for nearly three years and has been living in Japan, which has contributed to the management issues [7][8]. Group 3: Financial Management and Structure - Jingqi Investment was established on March 9, 2015, and currently manages between 1 billion to 2 billion yuan, with 56 funds under management [5]. - The company has faced scrutiny over its operational practices, particularly regarding the management of its funds and the legitimacy of its financial transactions [4][5].

Core Viewpoint - The recent internal conflict at the well-known quantitative private equity firm Jingqi Investment has escalated, leading to risk warning announcements and account irregularities, with招商证券 being implicated in the turmoil [1] Group 1: Internal Conflict - Jingqi Investment's founder and fund manager Fan Siqi has issued statements regarding significant abnormal transfers from the company's main account and allegations of illegal activities such as forgery of corporate seals and unauthorized fund establishment and liquidation [1] - Another founder, Tang Jingren, stated that the company is currently undergoing a change in legal representative, and Fan Siqi has misused his authority to alter the management of the company's WeChat account [1] - Fan Siqi's actions are reportedly aimed at pressuring other shareholders due to differing management philosophies, including maliciously liquidating company fund products and misplacing company seals [1] Group 2: Involvement of 招商证券 - 招商证券 has been identified as the custodian for three of Jingqi Investment's products, which are not involved in trading at the firm, and all product establishment and operation matters have been confirmed as compliant with legal regulations [1] - A representative from 招商证券 clarified that there are no violations of fund laws and regulations concerning their custodial responsibilities [1]

Core Viewpoint - The internal conflict within the well-known quantitative private equity firm Jingqi Investment has escalated, involving allegations of financial misconduct and mismanagement by its founders, particularly concerning the handling of company accounts and legal authority [1][2][4]. Group 1: Internal Conflict and Allegations - Jingqi Investment has issued multiple risk warning announcements regarding significant abnormal fund transfers from its main account, which have severely impacted its financial operations [2][3]. - Founder Fan Siqi has been accused of unauthorized actions, including the illegal use of the company seal and signatures to establish and liquidate funds without proper authorization [1][2][3]. - The company is currently undergoing a change in its legal representative, which has led to disputes over control and management rights between the founders [6][7]. Group 2: Company Operations and Management - Jingqi Investment was established on March 9, 2015, with a management scale between 1 billion and 2 billion yuan, overseeing 56 funds [4]. - The firm has faced scrutiny regarding its compliance with fund regulations, particularly concerning the Jingqi Tiangong Jupei Exclusive No. 1 Private Securities Investment Fund, which allegedly operated without proper authorization [3][4]. - The company has reported that its main account operations have been frozen online, but offline transactions can still be conducted under strict conditions [2][3]. Group 3: Stakeholder Responses - The other founder, Tang Jingren, has publicly stated that Fan Siqi's actions are intended to pressure other shareholders and disrupt the company's operations [6][7]. - Tang Jingren and another shareholder have issued a statement to investors regarding the removal of Fan Siqi from his positions, indicating ongoing legal processes to formalize this change [6][7]. - Fan Siqi has claimed that he has been sidelined from company operations and has not agreed to the current business direction, which he believes lacks transparency [6][7].

Core Viewpoint - Recent announcements from Jiangqi Investment highlight serious internal issues, including unauthorized use of corporate seals and significant fund transfers, indicating potential governance failures and internal conflicts within the company [1][2][10]. Group 1: Unauthorized Actions - Jiangqi Investment reported that individuals acted without the authorization of the legal representative, Fan Siqi, using forged corporate seals and signatures for critical legal actions such as fund establishment and account opening [1][2]. - The company has formally requested the return of the seals and has reported the matter to law enforcement, asserting that any documents created under these unauthorized actions will not be recognized [2][3]. Group 2: Fund Transfer Incident - On July 2, a significant abnormal fund transfer occurred, with 5 million yuan being moved from the company's main account within hours, leaving only 2,600 yuan remaining [6][10]. - The transfers included payments for unauthorized bonuses and services, raising concerns about financial management and oversight within the company [10]. Group 3: Internal Conflict - The fund transfer incident is seen as an extension of internal power struggles, with the founder, Fan Siqi, previously losing access to critical company functions and later announcing his resignation due to pressure [10]. - Allegations have surfaced regarding a shareholder misappropriating funds for personal use, further complicating the company's internal dynamics [10]. Group 4: Compliance and Due Diligence - Jiangqi Investment has urged all partners and financial institutions to strictly adhere to due diligence requirements, ensuring that any actions taken regarding fund management are properly authorized [2][4]. - The company has emphasized the importance of compliance to prevent involvement in unauthorized activities that could lead to financial losses [4][9].

Core Viewpoint - A governance crisis within the quantitative private equity firm Shanghai Jingqi Investment Management Co., Ltd. has exposed underlying issues in the industry, leading to internal conflicts and regulatory complaints against its custodian, China Merchants Securities [2][4]. Group 1: Company Background - Jingqi Investment was established in 2015, managing assets between 1 billion and 2 billion yuan. The major shareholders include Fan Siqi (36.36%), Tang Jingren, and Mao Noping (27.27% each) [3]. - Fan Siqi serves multiple roles including legal representative, chairman, general manager, and fund manager, while Tang Jingren is the risk control officer [3]. Group 2: Recent Developments - On June 10, 2025, Fan Siqi announced his resignation as fund manager, citing significant stress and loss of passion due to management responsibilities [4]. - Following his resignation, a shareholder meeting led to his abrupt removal from all positions, which he described as a betrayal [4][6]. - On August 7, 2025, Jingqi Investment issued a risk warning, highlighting unauthorized actions by personnel and alleging that China Merchants Securities failed to fulfill its basic verification obligations [2][5]. Group 3: Financial Irregularities - Fan Siqi accused Tang Jingren of mismanaging company funds, including receiving commission income through a company owned by Tang, which was not properly accounted for [8]. - Allegations include using company funds for personal expenses and failing to report certain income, raising concerns about financial governance [8][9]. Group 4: Regulatory Context - The issue of commission rebates has been a longstanding concern in the industry, with regulations prohibiting such practices to maintain fair competition [11]. - Recent investigations into other firms, including allegations against senior personnel at China Merchants Securities, highlight ongoing scrutiny in the sector [10][12].

Core Viewpoint - The internal conflict at Jiangqi Investment has escalated, with allegations of unauthorized use of the company's legal seal and signature, leading to potential legal implications and scrutiny of the custodian, China Merchants Securities [2][3][6]. Group 1: Company Statements and Allegations - Jiangqi Investment issued a statement claiming that unauthorized personnel used a forged legal seal and signature to conduct key legal actions such as fund establishment and account opening without proper authorization from the legal representative [3][6]. - The company emphasized that any documents created using the unauthorized seal are invalid and that the legal seal is now under the control of the legal representative, Fan Siqi [3][6]. - Jiangqi Investment has formally requested the return of the seal and has reported the matter to the police [3]. Group 2: Custodian's Role and Responsibilities - The statement specifically names China Merchants Securities, accusing it of failing to perform due diligence in the establishment and operation of the "Jiangqi Tiangong Jupei Exclusive No. 1 Private Securities Investment Fund" [6][9]. - The fund was established on July 7, 2025, shortly after Fan Siqi was removed from the company, raising questions about the legitimacy of the fund's operations [10][11]. - A source indicated that China Merchants Securities acted based on previous contracts and documentation, without any request for changes to the legal seal following internal changes at Jiangqi Investment [10][12]. Group 3: Shareholder Dynamics and Internal Conflict - Jiangqi Investment was founded in March 2015 and currently manages assets between 1 billion to 2 billion RMB [7]. - The ownership structure shows that Fan Siqi holds 36.36% of the shares, while Tang Jingren and Mao Noping each hold 27.27%, leading to a lack of absolute control by any single shareholder [7]. - Fan Siqi publicly expressed his grievances about being ousted from the company in a shareholder meeting that he claims was poorly communicated [7][8].

Core Viewpoint - The internal conflict within Jingqi Investment has escalated, leading to allegations of unauthorized use of the company's legal seal and signature, as well as accusations against the custodian broker, China Merchants Securities, for failing to fulfill its due diligence obligations [1][2][5]. Group 1: Company Internal Conflict - Jingqi Investment issued a statement on August 7, 2025, claiming that unauthorized personnel used a forged legal seal and signature without the authorization of the legal representative, Fan Siqi [2][4]. - The company emphasized that any documents created using the unauthorized seal are not recognized and that they do not bear any legal consequences [2][4]. - Fan Siqi, the largest shareholder, was reportedly ousted from the company in a meeting with only nine minutes' notice, which he described as a "backstab" [7]. Group 2: Allegations Against Custodian - The statement specifically named China Merchants Securities, alleging that it failed to conduct basic verification duties during the establishment and operation of the Jingqi Tiangong Jupei Exclusive No. 1 Private Securities Investment Fund [5][8]. - Jingqi Investment has a total of 58 products under management, with three of them being managed by China Merchants Securities [8][11]. - The fund in question was established on July 7, 2025, shortly after Fan Siqi's removal, raising concerns about the legitimacy of its operations [8]. Group 3: Company Structure and Ownership - Jingqi Investment was founded in March 2015 and currently manages assets between 1 billion and 2 billion yuan [5]. - The ownership structure shows Fan Siqi holding 36.36% of the shares, while Tang Jingren and Mao Noping each hold 27.27%, totaling 54.54% among the three [5]. - After ownership penetration, Fan Siqi's effective shareholding is 42.73%, which does not grant him absolute control [5].

量化私募靖奇投资创始人范思奇近日发布风险警示公告，称公司存在非法使用伪造法人印章及冒用法人 签名，擅自进行基金设立、清盘、证券账户开立等关键法律行为的情形，提醒托管机构、证券公司及合 作方应严格履行尽职调查义务，并提及其中一家托管方招商证券。对此，记者查询到，靖奇投资旗下合 计有58只存续产品，托管机构涵盖国泰海通证券、国信证券、兴业证券、华福证券、中信证券、招商证 券等多家券商。其中，招商证券仅托管其中3只产品。接近招商证券的人士透露，自与靖奇投资合作以 来，招商证券没有通过任何途径收到过来自于靖奇投资任何形式的变更申请，也不存在核查不到位或其 他违规操作事宜。同时，上述3只产品虽在招商证券托管，但并未通过招商证券交易，不存在相关返佣 情形。 ...

Core Viewpoint - Recent announcements from Jingqi Investment highlight serious internal issues, including unauthorized use of corporate seals and significant fund transfers, indicating potential governance failures and internal conflicts within the company [1][3][11]. Group 1: Unauthorized Actions - Jingqi Investment reported that individuals acted without the authorization of the legal representative, Fan Siqi, using forged corporate seals and signatures for critical legal actions such as fund establishment and account opening [1][3]. - The company has formally complained to the China Securities Regulatory Commission and the Asset Management Association of China regarding these unauthorized actions and the failure of the custodian, China Merchants Securities, to perform due diligence [1][3]. Group 2: Financial Irregularities - On July 2, a significant abnormal transfer of funds occurred from the company's main account, with 5 million yuan being transferred out within hours, leaving only 2,600 yuan in the account [2][11]. - The transfers included payments for a "year-end bonus" to a shareholder and fees to an unrelated account for "information technology services," raising concerns about the legitimacy of these transactions [11]. Group 3: Internal Conflicts - The situation reflects an escalation of internal power struggles within Jingqi Investment, with the founder, Fan Siqi, previously losing access to critical operational controls during a hastily convened shareholder meeting [11]. - Following these events, Fan Siqi announced his resignation as fund manager due to stress, while the company attempted to clarify his status and the implications of the fund's management [11]. Group 4: Company Background - Jingqi Investment, established in 2015, focuses on quantitative investment using data mining and modeling techniques, and became a member of the Asset Management Association of China in 2018 [12]. - The company currently has 58 products, with only three under the custody of China Merchants Securities, which has stated that it found no evidence of wrongdoing in its internal review [12].