Core Viewpoint - The fund manager Shi Cheng from Guotou Ruijin is facing legal action due to significant losses in a fund he managed, which has lost 5.752 billion yuan over four years, raising concerns about the performance of the fund and the management team [1][4][16]. Group 1: Fund Performance and Legal Issues - Investor Li has filed a lawsuit against Guotou Ruijin and Shi Cheng for "financial entrusted management contract disputes" [1][13]. - Shi Cheng, who has 15 years of experience and has been a fund manager since March 2019, is now a co-defendant in the case [1][4][16]. - The Guotou Ruijin New Energy Mixed Fund, managed by Shi Cheng, has reported losses of 2.564 billion yuan in 2022, 2.447 billion yuan in 2023, and 741 million yuan in 2024, totaling 5.752 billion yuan over four years [4][16]. Group 2: Fund Management and Historical Performance - Shi Cheng was a prominent fund manager during the bull market from 2020 to 2021, achieving returns of 101.52% and 60.03% respectively [4][16]. - The total assets under management for Shi Cheng's funds increased dramatically from approximately 3.852 billion yuan in Q2 2021 to 21.287 billion yuan in Q3 2021, a rise of 17.435 billion yuan in just one quarter [3][15]. - The Guotou Ruijin New Energy Mixed Fund peaked at nearly 10 billion yuan in assets but has since faced significant declines [4][16]. Group 3: Company Overview and Fund Structure - Guotou Ruijin, established in June 2005, is a joint venture fund company with a 49% foreign ownership, primarily held by Guotou Taikang Trust and UBS Group [6][18]. - As of January 9, 2026, Guotou Ruijin manages 240.531 billion yuan across 218 funds, with nearly half of its assets in money market funds [6][18]. - The active equity investment team includes key figures such as Qi Fupeng, Sang Jun, and Shi Cheng, with varying performance levels across their managed funds [19][21].