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Core Viewpoint - Ningquan Asset announced the suspension of new investor subscriptions for all its funds, citing the need for investment management operations [2][3]. Group 1: Suspension of New Subscriptions - Ningquan Asset will suspend new investor "first-time" subscription applications starting from October 30, 2025, while existing investors can still make additional subscriptions [5][6]. - The company clarified that the suspension does not affect existing investors who wish to add to their investments, and the date for resuming subscriptions will be announced later [6]. Group 2: Company Background - Ningquan Asset, officially known as Shanghai Ningquan Asset Management Co., Ltd., was established on January 9, 2018, with a registered capital of 20 million yuan [6]. - The company manages assets exceeding 10 billion yuan, with industry insiders estimating its management scale to be in the hundreds of billions [6]. - Founder 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 [6]. Group 3: Investment Philosophy - Ningquan Asset emphasizes a corporate spirit of simplicity, integrity, and stability, focusing on in-depth research of A-share and Hong Kong markets [6]. - The company aims to achieve substantial returns through effective risk control and by selecting value stocks based on long-term compounding growth [6].