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Group 1 - Ningquan Asset announced the suspension of new investor subscriptions for all its funds starting from October 30, 2025, while existing investors can still make additional subscriptions [3] - The reason for this suspension is stated as "based on the company's investment management operations needs" [1][3] - Ningquan Asset, founded in January 2018, has a registered capital of 20 million yuan and manages assets estimated to be in the hundreds of billions [3] Group 2 - The founder and actual controller of Ningquan Asset, Yang Dong, is a well-known figure in the public fund industry, recognized for warning about market risks at high points in 2007 and 2015 [3] - Yang Dong has a strong educational background with a degree in Mathematical Statistics from Fudan University and an MBA, and has held significant positions in the finance sector, including General Manager of Xingquan Fund for 13 years [3] - The company emphasizes a corporate spirit of simplicity, integrity, and stability, focusing on in-depth research of A-share and Hong Kong markets to achieve substantial returns through value stock selection and effective risk control [4]