Group 1 - The "Ningquan Zhiyuan No. 55 Private Securities Investment Fund" managed by Ningquan Asset has been placed on the list of entities prohibited from participating in new share subscriptions for a period of six months, from June 20, 2025, to December 19, 2025 [1] - The specific reason for this restriction has not been disclosed, but it is related to an error in the uniform declaration of the product, which typically refers to critical information errors such as incorrect identity information or abnormal subscription amounts [1][2] - Ningquan Asset, established in 2018, currently manages over 30 billion yuan (approximately 4.5 billion USD) [2] Group 2 - The founder of Ningquan Asset, Yang Dong, has over 30 years of experience in the securities industry and previously served as the general manager of Xingquan Global Fund [2] - The company has grown significantly since its inception, reflecting a robust management capability in the private equity sector [2]