Nan Fang Du Shi Bao·2025-08-08 11:40Core 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].