经济观察报·2025-08-08 12:33Core Viewpoint - The article discusses a governance crisis at Shanghai Jingqi Investment Management Co., Ltd. (Jingqi Investment), highlighting internal conflicts and allegations of unauthorized actions involving the use of forged legal seals and signatures, which have implications for its custodian, China Merchants Securities [2][5][10]. Group 1: Company Background - Jingqi Investment was established in 2015, managing assets between 1 billion to 2 billion yuan [4]. - The company has two founders: Fan Siqi, who holds a 36.36% stake, and Tang Jingren, who holds a 27.27% stake [4]. - Fan Siqi serves multiple roles including legal representative, chairman, and fund manager, while Tang Jingren is the risk control officer [4]. Group 2: Recent Developments - On June 10, 2025, Fan Siqi announced his resignation as fund manager, citing significant pressure and loss of enthusiasm due to management responsibilities [5]. - Following his resignation, Jingqi Investment stated that the funds managed by Fan Siqi were a small portion of the total assets under management and that all other products were operating normally [5]. - On July 2, 2025, Jingqi Investment reported a large abnormal transfer from its main account, leading to the freezing of online operations [7]. Group 3: Allegations and Complaints - The risk warning issued on August 7, 2025, indicated unauthorized actions by personnel, including the illegal use of forged seals, and accused China Merchants Securities of failing to fulfill its basic verification obligations [2][10]. - Fan Siqi claimed that there were instances where company funds were used for personal expenses by a shareholder, raising concerns about financial management [10]. - The article also mentions ongoing investigations into potential commission kickbacks involving brokerage firms, which are prohibited by regulatory authorities [10][12].