机构简介： 敦和资产管理有限公司成立于 2011 年3月2日，是一家中国本土成长起来的、致力于国内外资本市场投 资的全球宏观私募基金公司。多年以来，敦和资管逐步探索并形成了基本面驱动的股票、债券和大宗商 品等多资产配置，现货、期货、期权和场外衍生品等多工具使用，以及不同风险收益特征的多策略构建 能力。在此基础上，公司形成了宏观对冲，多资产组合及系统化多策略的三大系列大类资产配置私募基 金产品。围绕建立"一切以客户为中心"的一流资产管理机构发展目标，敦和资管已经建立并形成了包括 投研、系统建设、市场销售、合规风控、人力资源和财务支持的前中后台全面保障运营体系。目前，公 司资产管理规模超过 400 亿元人民币，名列私募证券投资基金行业前列。xa0 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 根据市场公开信息及5月6日披露的机构调研信息，知名私募敦和资管近期对1家上市公司进行了调研， 相关名单如下： 1）赛意信息 （敦和资管参与公司线上电话会议） 调研纪要：公司领导介绍了公司基本情况、业务模式、经营模式及未来发展方向，并与机构人员交流。 ...

Group 1: New Regulations on Housing Standards - The national standard "Residential Project Specification" will be implemented starting May, raising the minimum height of new residential buildings to 3.00 meters and requiring each unit to have rooms that meet daylight standards [2] - The new regulations also enhance sound insulation requirements between bedrooms, living rooms, and adjacent rooms, as well as for external windows and noise from building equipment [2] - Elevators must be installed in buildings with four or more floors according to the new housing standards [2] Group 2: Marriage Registration Reforms - The revised "Marriage Registration Regulations" will take effect on May 10, 2025, introducing nationwide marriage registration services and eliminating fees for registration [5] Group 3: Consumer After-Sales Service Standards - The new "Consumer After-Sales Service Methods and Requirements" standard will be implemented on May 1, 2025, emphasizing timely response, professionalism, convenience, and transparency in after-sales services [8] - The standard includes new service types such as delivery, extended warranty, and recycling, while enhancing consumer data privacy protections [8] Group 4: Return Policy Regulations - The "After-Sales Service No-Reason Return Service Specification" will be implemented on May 1, 2025, outlining conditions and processes for no-reason returns for both online and in-store sales [10] Group 5: Food Safety Reporting System - A national food safety reporting system will be launched in May to encourage reporting of food safety violations and risks, enhancing community involvement in food safety [12] Group 6: Rural Women's Rights Protection - The "Rural Collective Economic Organization Law" will take effect on May 1, 2025, strengthening the protection of rural women's rights and ensuring equal rights in collective economic organizations [15] Group 7: Tax Professional Service Regulations - The "Tax Professional Service Management Measures (Trial)" will be implemented on May 1, focusing on improving service quality and establishing a credit and risk management mechanism for tax services [17] Group 8: Energy Consumption Standards - Thirteen mandatory national standards, including "Energy Consumption Limits for Refining and Chemical Industry Products," will be implemented on May 1, expected to save 24.52 million tons of standard coal annually [19]

为进一步提升私募机构合规意识和水平，增强对法规及自律规则要求的理解和掌握，中国证券投资基金 业协会（以下简称"基金业协会"）将在全国开展2025年私募基金合规系列培训。4月25日，基金业协会 与北京证监局、北京基金小镇投资者教育基地在京举办了该系列的首场培训。北京证监局、基金业协会 领导先后做开班致辞，表示将服务和推动私募基金行业规范运作、高质量发展。 培训邀请证监会市场二司、北京证监局相关业务负责人以及基金业协会相关业务骨干授课。来自北京、 天津、河北、山东、山西、内蒙古、青岛地区的私募基金管理人的高管，共计130余家机构的200余人参 加面授培训。 基金业协会相关业务负责人及骨干详细解读了私募基金管理人登记和持续运作标准、事中事后管理和登 记信息变更要求，私募基金备案规则体系、基金备案和《运作指引》重要条款及注意事项，介绍了市场 风险与监管要求，剖析了私募基金纪律处分典型案例，切实帮助私募基金管理人全面、准确掌握合规要 求，提高专业化运作水平。 随着相关法规及自律规则的不断完善，私募行业的发展将更加规范化、专业化。北京基金小镇相关负责 人表示，将在基金业协会、北京证监局的支持和指导下，充分发挥国家级投资者 ...

【导读】收取债券分销费，利用私募基金财产为自身牟取非法利益，上海晋蓉被注销私募管理人登记 提供债券咨询服务、收取债券分销费 利用基金财产为自身牟取非法利益 纪律处分决定书显示，经查，上海晋蓉存在五大违规行为，包括兼营与私募基金管理无关或存在利益冲突的其他业务、利用私募基金财产为自身牟取非法 利益、委托不具备基金销售资格单位或个人从事资金募集活动、登记的高级管理人员未实际履职、未就登记信息变更向协会履行变更手续。 在去年3月收到上海证监局警示函后，今年4月上海晋蓉投资管理有限公司（以下简称上海晋蓉）又收到了来自中国证券投资基金业协会（以下简称协会） 的纪律处分决定书。 协会提到，上海晋蓉为其他公司提供债券融资咨询服务，并收取债券分销费；利用私募基金财产为自身牟取非法利益，比如其管理的两只私募基金参与认 购相关债券2.2亿元，公司收到了256万元的债券费用。 最终，协会决定注销上海晋蓉私募基金管理人登记。 具体来看，上海晋蓉兼营与私募基金管理无关或存在利益冲突的其他业务。公司于2022年11月与某投资公司签署《融资顾问服务协议》，约定某投资公司 委托上海晋蓉提供债券融资咨询服务；经核查银行流水，某投资公司于202 ...

在金融投资领域，孔祥明这个名字或许并不为大众所熟知，但在私募基金圈内，他却是一个响当当的人 物。作为明辞私募的创始人，孔祥明以其独到的投资眼光和稳健的操作风格，赢得了业内的广泛赞誉。 他的投资理念和人生哲学，更是给无数人带来了深刻的启示。 孔祥明的人生并非一帆风顺。他出生在一个普通的家庭，从小就经历了许多生活的磨难。父母早年离 异，他跟随母亲生活，家境贫寒。为了减轻母亲的负担，他从小就开始做各种兼职，从送报纸到在餐馆 打工，无所不包。这些经历让他早早地体会到了生活的艰辛。 "生活或许布满荆棘，"明辞私募孔祥明常常这样对人说，"但正是这些荆棘，让我学会了如何坚强。"他 深知，人生的道路上不可能一帆风顺，只有经历过风雨，才能见到彩虹。 尽管生活充满了挑战，但孔祥明从未放弃过自己的梦想。他从小就对金融投资充满了兴趣，梦想着有一 天能够在这个领域有所作为。为了实现这个梦想，他付出了比常人更多的努力。 大学期间，孔祥明选择了金融专业，并且利用课余时间自学了大量相关知识。他经常泡在图书馆里，阅 读各种金融书籍和期刊，甚至不惜花费重金购买一些专业课程。为了积累实践经验，他还主动申请到一 些金融机构实习，从中学习到了许多宝贵 ...

Group 1: Company Performance - Yihua Jiaye reported a main revenue of 265 million yuan for Q1 2025, representing a year-on-year increase of 38.11% [1] - The net profit attributable to shareholders for Yihua Jiaye was 71.93 million yuan, up 44.11% year-on-year [1] - The non-recurring net profit for Yihua Jiaye was 60.19 million yuan, reflecting a year-on-year increase of 43.18% [1] - Yihua Jiaye's debt ratio stood at 14.07%, with investment income of 4.84 million yuan and financial expenses of -9.08 million yuan [1] - The gross profit margin for Yihua Jiaye was 49.57% [1] Group 2: Company Highlights - Yingqu Technology is currently providing automation equipment and solutions for new energy enterprises [2] Group 3: Institutional Overview - Shenzhen Zhongou Ruibo Investment Management Co., Ltd. was established in 2007 and is one of the earliest private equity fund management companies in China [3] - The company focuses on secondary market securities investment and has launched over 50 private equity products in collaboration with top financial institutions [3] - Zhongou Ruibo emphasizes risk management and has received various industry awards, including the "Morningstar Award" and "Golden Bull Award" [3]

Group 1 - The core viewpoint of the articles highlights the trend of private equity firms, particularly Hangzhou Longqi Technology, actively closing their funds to new investments to protect existing investors' interests and maintain product performance [1][2]. - Hangzhou Longqi Technology's quantitative timing strategy products have seen significant growth in subscription volumes this year compared to last year, prompting the decision to phase out new subscriptions [2][3]. - The private equity market is experiencing a recovery, with March seeing a substantial increase in new fund registrations, with 1,423 new private equity funds totaling 631.3 billion yuan, a significant rise from February's figures [3]. Group 2 - The technology sector is gaining attention from private equity firms, with a notable influx of capital and the positive impact of policy measures enhancing the investment value of Chinese equity assets [4]. - Analysts believe that the external uncertainties are diminishing, making AI a favorable investment direction, especially given China's rich application scenarios and internet ecosystems [4]. - Data indicates that private equity firms are particularly focused on the technology sector, with the electronics industry being the most researched, receiving 655 inquiries from 650 private equity institutions [4].

Core Viewpoint - A significant number of private equity firms in China are being deregistered due to regulatory violations, indicating a trend towards stricter oversight in the private equity sector to protect investor rights and stabilize the capital market [1][3][5]. Group 1: Deregistration of Private Equity Firms - On April 25, the Asset Management Association of China (AMAC) announced the deregistration of five private equity firms due to abnormal operational conditions, bringing the total to 437 firms deregistered in 2023 [3][4]. - Among the 437 deregistered firms, 172 chose to deregister voluntarily, while 244 were deregistered by the association, and 20 were deregistered due to inactivity for 12 months [3][4]. Group 2: Regulatory Actions and Violations - A total of 141 private equity firms have been "named" for regulatory violations in 2023, with issues including failure to conduct proper investor qualification checks and mismanagement of fund assets [5][6]. - Notably, two firms controlled by singer Hu Haiquan received warning letters for failing to fulfill their fiduciary duties and for inadequate risk assessments of investors [4][5]. Group 3: Financial Penalties - Guangdong Huadi Investment Group was fined 1.05 million yuan for misappropriating fund assets and failing to disclose information as required, highlighting the financial repercussions of regulatory non-compliance [6][7]. - The penalties serve as a warning to other firms regarding the importance of adhering to regulations in all stages of fund management, including fundraising, investment, management, and exit [6][7]. Group 4: Future Regulatory Recommendations - Experts suggest implementing digital regulation and enhancing compliance education for private equity executives and fund managers to ensure adherence to regulations and protect investor rights [7][8]. - The focus on strengthening the regulatory framework aims to eliminate poor-performing firms and promote high-quality development within the private equity market [3][7].

2025年4月23日，中国证监会北京监管局发布行政监管措施决定书，与歌手胡海泉相关的两家私募基金——北京乾祥海泉投资管理有限公司（下称"乾祥海泉 投资"）和北京海纳百泉投资基金管理有限公司（下称"海纳百泉基金"）被采取出具警示函的监管措施。这是继2023年6月后，海纳百泉基金再次因同类问题 被监管部门点名。 事实上，这并非海纳百泉基金首次被罚。2023年6月，海纳百泉基金就因相同违规行为被北京证监局出具警示函，且该公司曾四度成为被执行人，大股东尹 承双处于限制高消费状态。资料显示，乾祥海泉投资与海纳百泉基金的管理规模均偏小，不足5亿元。 根据监管披露，乾祥海泉投资因在管理、运用私募基金财产过程中未能恪尽职守履行诚实信用、谨慎勤勉义务被责令整改。海纳百泉基金则存在两项违规： 一是未履行投资者适当性管理义务，未在基金募集期间对投资者的风险识别能力和承担能力进行评估；二是同样未能勤勉尽责。北京证监局要求两家公司提 交书面整改报告，并在30日内完成整改验收。 4月24日，海纳百泉基金通过官方微博回应称，警示内容涉及的问题已在2017年前完成自查自纠并通过监管部门验收，未造成投资者损失，目前基金处于"健 康正常运营"状 ...

智通财经4月25日电，中国证券投资基金业协会发布公告，深圳市宏盛天资产管理有限公司等5家私募基 金管理人存在异常经营情形，且未能在书面通知发出后的3个月内提交符合规定的专项法律意见书，协 会将注销该5家机构的私募基金管理人登记。已注销的私募基金管理人和相关当事人，应当根据法律法 规、证监会规定以及协会相关自律规则、基金合同约定，妥善处置在管基金财产，依法保障投资者的合 法利益。 中基协：注销5家异常经营私募基金管理人登记 ...