近3亿执行标的惊现，西部利得基金回应：系专户产品商事纠纷

Core Viewpoint - The recent legal case involving Western Li De Fund, with an execution amount of 291 million yuan, has raised market concerns about the company's financial stability and operational integrity following the resignation of a fund manager due to gambling issues [1][5]. Group 1: Legal Issues - Western Li De Fund has been listed as a defendant in a case with an execution amount of 291 million yuan, filed on November 6, 2025, by the Shanghai Financial Court [1][2]. - The company claims that the case is related to a commercial dispute arising from the operation of a separate account product, asserting that any debts incurred should be borne by the plan's assets themselves [1][5]. - The second-largest shareholder, Li De Technology, has also faced legal troubles, with two execution cases totaling 128,900 yuan reported in September 2025, and the freezing of shares worth 181.3 million yuan in Western Li De Fund [3][4]. Group 2: Financial Performance - In the first half of 2025, Western Li De Fund reported revenues exceeding 200 million yuan, with a net profit of only 28.1 million yuan, highlighting a significant disparity compared to the nearly 291 million yuan execution amount [2]. - The company's total revenue for the previous year was 384 million yuan, with a net profit of 50.7 million yuan, indicating a decline in profitability [2]. Group 3: Management Changes - Following the gambling incident involving fund manager Jie Wenzeng, who was dismissed on September 25, 2025, the company has faced scrutiny regarding its internal controls and information disclosure practices [6]. - The company also experienced a key management change when He Yanping retired on October 4, 2025, with Chairman He Fang temporarily taking over the role of General Manager [6].