Group 1 - Ningquan Asset announced the suspension of new investor subscriptions for all its funds starting from October 30, 2025, while existing investors can still make additional subscriptions [3] - The reason for this suspension is stated as "based on the company's investment management operations needs" [1][3] - Ningquan Asset, founded in January 2018, has a registered capital of 20 million yuan and manages assets estimated to be in the hundreds of billions [3] Group 2 - The founder and actual controller of Ningquan Asset, 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 [3] - Yang Dong has a strong educational background with a degree in Mathematical Statistics from Fudan University and an MBA, and has held significant positions in the finance sector, including General Manager of Xingquan Fund for 13 years [3] - The company emphasizes a corporate spirit of simplicity, integrity, and stability, focusing on in-depth research of A-share and Hong Kong markets to achieve substantial returns through value stock selection and effective risk control [4]

Group 1 - A significant number of funds, nearly 50, announced a suspension of subscription services before the National Day and Mid-Autumn Festival holidays, effective from September 29, with a resumption on October 9 [1][3] - The suspended products include money market funds, bond funds, and interbank certificate funds, aimed at protecting the interests of existing fund shareholders and enhancing the stability of fund operations [1][3] - Fund managers advised investors to consider the time required for fund transactions and to make arrangements in advance if they need to access funds during the holiday period [1][5] Group 2 - Specific funds such as Chang'an Money Market, China Ocean Money Market, and various bond funds have confirmed the suspension of subscription, conversion, and regular investment services [3][4] - The suspension is in line with the trading halt of the Shanghai and Shenzhen stock exchanges from October 1 to October 8, with trading resuming on October 9 [3][4] - The rationale for the suspension is to prevent a large influx of funds just before the holiday, which could complicate fund management and dilute the interests of existing shareholders [4]

Core Viewpoint - Several fund management companies have announced the suspension of subscription for certain funds before the "May Day" holiday to prevent large inflows of capital that could dilute the returns for existing shareholders [1][3][4] Fund Management Actions - Fund companies such as Anxin Fund, Zheshang Fund, and others have decided to suspend subscriptions for various products, primarily focusing on bond funds, money market funds, and interbank certificate index funds, starting from April 29, resuming on May 6 [1][3] - The suspension is aimed at ensuring stable fund operations and protecting the interests of fund shareholders [1][3] Market Context - The decision to suspend subscriptions is influenced by the anticipated influx of funds seeking to preserve value during the holiday, which could lead to significant fluctuations in fund net values [4] - The Shanghai and Shenzhen Stock Exchanges have announced a market closure from May 1 to May 5, prompting fund managers to take preemptive measures [3] Investor Guidance - Fund managers have advised investors to make early trading arrangements to avoid inconveniences caused by transactions crossing over the holiday period [2][3] - Investors are encouraged to familiarize themselves with the trading and interest calculation rules of relevant products to avoid missing out on interest opportunities during the holiday [4]