北大精英掌舵头部量化私募翻车：平方和投资创始人吕杰勇虚开千万发票套现遭罚167万

Core Viewpoint - Ningbo Pingfanghe Investment Management Partnership (Limited Partnership) has been fined 1.676 million CNY for significant tax violations, highlighting compliance risks in the quantitative investment sector [1][5][12]. Company Summary - Ningbo Pingfanghe Investment Management was established in August 2015 and manages assets between 5 billion to 10 billion CNY, with a registered office in Ningbo and operations in Beijing [5][6]. - The company specializes in quantitative investment strategies, primarily focusing on stock strategies and long positions [7][9]. - The founder and general manager, Lv Jieyong, holds a 52.5% stake and has a strong background in data mining and quantitative finance [7]. Violation Details - Between 2019 and 2020, the company engaged in fraudulent activities by using 173 fake VAT invoices totaling 14.5516 million CNY, primarily for "recruitment services" and "technical services" [3][5]. - The fraudulent scheme involved creating fictitious costs to extract funds from the company, leading to significant tax losses, including 268,800 CNY in 2019 and 3.0834 million CNY in 2020 [5][12]. - The total penalty imposed after tax repayment and late fees amounts to 1.676 million CNY [5][12]. Industry Implications - This case reflects the survival anxiety among mid-sized quantitative firms, which face increasing pressure to invest in talent and technology while navigating compliance risks [11][12]. - The incident serves as a warning for the asset management industry, emphasizing that compliance is a non-negotiable aspect of operations, regardless of the sophistication of investment strategies [12].