6000万元理财，牛市9个月亏逾80%，圣元环保：未能第一时间识别作假

Core Viewpoint - Shengyuan Environmental disclosed significant losses from its investment in the "Shenbo Hongtu Growth No. 1 Private Securities Investment Fund," managed by Shenzhen Shenbo Xintou Investment Management Co., which resulted in a loss of approximately 46.92 million yuan and a cumulative net value growth rate of -81.54% [1][2]. Investment Loss Details - The investment began in March 2025, with a total contribution of 60 million yuan to the fund [2]. - The fund's unit net value dropped from 0.9215 yuan on December 4, 2025, to 0.2596 yuan by December 11, 2025, leading to a drastic reduction in asset value from over 55 million yuan to about 15 million yuan [2]. Fund Management Issues - Shengyuan Environmental accused the fund manager, Shenzhen Shenbo Xintou, of unauthorized trading and falsifying net asset value information [1]. - The company received a warning letter from the Xiamen Securities Regulatory Bureau for failing to disclose the significant losses in a timely manner [5]. Compensation Commitments - The actual controllers of Shengyuan Environmental, Zhu Yuxuan and Zhu Hengbing, committed to compensating for the investment losses, with a promise to cover the difference between the initial investment and any recoveries made [5][6]. Mysterious Individual Involvement - A mysterious individual named Wen Tingtao emerged, agreeing to bear joint liability for the investment losses, but has only paid 2 million yuan of the promised compensation [3][4]. Regulatory Actions - The Xiamen Securities Regulatory Bureau issued a warning letter to Shengyuan Environmental and its executives for not disclosing the losses promptly [5]. Fund Performance and Risk Management - The fund was classified as R4 level (medium-high risk) and was supposed to have multiple risk control measures in place, which failed to prevent the significant losses [11]. - The fund's investment strategy included equities, fixed income, and derivatives, but the actual performance did not align with the expected risk management protocols [11]. Questions Raised - There are several unresolved questions regarding the fund's management, the relationship between Wen Tingtao and the fund, and the reasons behind the fund's significant losses despite the absence of major declines in its holdings [10][12].