Core Insights - As of April 2025, there are 141,600 active private equity funds in China, with a total scale of 20.22 trillion yuan [1] - The development momentum of equity and merger funds is in sync with the current recovery of the real economy in China [1] - The China Securities Investment Fund Industry Association aims to promote a healthy ecosystem for private equity funds, focusing on the entire chain of "raising, investing, managing, and exiting" [1] Industry Developments - The China Securities Investment Fund Industry Association is committed to fostering high-quality development in the equity and merger fund sector [1] - The association's efforts are aligned with the goal of nurturing new productive forces and supporting major national economic and social development strategies [1] - There is a focus on addressing key areas and weaknesses within the economy through the private equity fund industry [1]

Group 1 - The China Securities Regulatory Commission (CSRC) encourages private equity funds to participate in mergers and acquisitions of listed companies, establishing a simplified review process for the first time [1] - The CSRC has adjusted regulatory requirements for issuing shares to purchase assets and introduced a phased payment mechanism for the first time [1] - The CSRC has introduced a "reverse linkage" arrangement for private equity funds for the first time [1] Group 2 - Multiple public fund industry insiders stated that recent analyses regarding public fund assessment benchmarks leading to market adjustments are inaccurate and lack basic knowledge and evidence [2] Group 3 - The Hong Kong Hang Seng Index will include Midea Group and ZTO Express, while BYD will join the Hang Seng Tech Index, removing Reading Group [3] Group 4 - E Fund announced that renowned fund manager Zhang Kun will no longer serve as deputy general manager due to work adjustments and will focus on investment management in the future [4] Group 5 - Jinlitai's board disagreed with shareholders' proposal to convene an extraordinary general meeting [5] - 20CM's two consecutive trading limits for Toxin Pharmaceutical: Ivos will reduce its holdings by 1.3128 million shares from March 14 to May 15, 2025 [5] - Tailing Microelectronics: The National Fund's shareholding ratio has decreased to 6.95% [5] - Two consecutive trading limits for Liren Liyang: The revenue proportion of ergotamine products is very low [5] - Tunnel Holdings: The controlling shareholder plans to increase its stake in the company by 250 million to 500 million yuan [5] - CATL announced the H-share offering price set at HKD 263.00 per share [5]

Core Points - The article highlights the risks associated with private equity fund advertisements that violate regulatory requirements, indicating potential fraud [3][4] - It emphasizes the importance of ensuring that only qualified investors, who meet specific financial criteria, participate in private equity investments [3] - The article warns against the dangers of illegal fundraising schemes masquerading as private equity funds, which can lead to significant financial losses for investors [3] Regulatory Compliance - Private equity funds are prohibited from advertising through public media such as television, newspapers, and radio, as per the Securities Investment Fund Law of the People's Republic of China [3] - Qualified investors must have personal financial assets of at least 3 million yuan or an average annual income of 500,000 yuan over the last three years, or a net asset of at least 10 million yuan for institutions [3] - The compliance process for legitimate private equity fundraising includes specific procedures such as identifying target investors, matching investor suitability, and disclosing risks, which cannot be achieved through television advertisements [3] Investor Protection - Investors are advised to verify the registration information of private equity funds through the official website of the China Securities Investment Fund Industry Association if they encounter advertisements through informal channels [4] - It is recommended that investors consult legitimate financial institutions to understand investment products and avoid financial losses due to misleading promotions [4]

证券代码：688799 证券简称：华纳药厂 公告编号：2025-052 湖南华纳大药厂股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 投资基金名称及投资方向，与上市公司主营业务相关性：苏州融信健康产 业创业投资中心（有限合伙）（暂定名，以企业登记机关最终核准登记的名称为 准，以下简称"融信健康"或"合伙企业"），该基金投资于具有创新医药产品、 新剂型、复杂制剂等高技术门槛和较大发展潜力的成长期、非上市企业股权投 资，与公司主营业务具备相关性。 投资金额、在投资基金中的占比及身份：公司拟作为有限合伙人以自有资 金认缴出资不超过人民币 1,000 万元。 相关风险提示： 最终签署的正式协议为准，本事项实施过程尚存在一定的不确定性；基金设立 过程中存在可能因合伙人未能缴足认缴资金等客观原因，导致基金未能成功募 足资金的风险，实际募集及各方缴付出资情况可能存在不确定性； 投资基金业协会备案，本事项实施过程尚存在一定的不确定性； 限合伙人承担的风险敞口以投资额为限，本次投资无保本及最低收益的承诺。 公司 ...