【导读】银行间市场交易商协会对 3 家私募发自律处分 中国基金报记者 林雪 8 月 8 日晚间，中国银行间市场交易商协会（以下简称交易商协会）发布了多条自律处分信 息，涉及上海复熙资产管理有限公司（以下简称复熙资产）、上海寰财私募基金管理有限公 司（以下简称上海寰财）、江苏煜宁私募基金管理有限公司（以下简称江苏煜宁） 3 家机 构，主要涉及利用资管产品协助多家发行人非市场化发行，收取大额财务资助或代持服务费 等情况。 | 序号 | 处分对象 | 类型 | 处分措施 | 处分目期 | 标题 | | --- | --- | --- | --- | --- | --- | | 1 | 上海复熙资产管理有限公司 | 其他机构 | 严重警告 | 2025-08-04 | 中国银行间市场交易商协会自律处分信息 -- 复熙资产 | | 2 | 上海寰财私募基金管理有限公 司 | 其他机构 | 警告 | 2025-08-04 | 中国银行间市场交易商协会自律处分信息 -- 上海寰财 | | 3 | 江苏煜宁私募基金管理有限公 | 其他机构 | 严重警告 | 2025-08-04 | 中国银行间市场交易商协会自律处分信息一 | ...

北京商报讯（记者 李海媛）8月8日，中国银行间市场交易商协会发布自律处分信息显示，经查，江苏煜宁私募基金管理有限公司（以下简称"江苏煜宁"） 作为相关资产管理计划管理人或投资顾问，通过自身管理的资管产品协助多家发行人非市场化发行，收取大额财务资助。相关行为违背了发行公平、公正、 公开的原则，影响市场秩序。根据银行间债券市场相关自律规定，经自律处分会议审议，对江苏煜宁予以严重警告。 ...

北京商报讯（记者 李海媛）8月8日，中国银行间市场交易商协会发布自律处分信息显示，经查，上海寰财私募基金管理有限公司（以下简称"上海寰财"） 作为相关私募基金管理人，通过自身管理的私募基金嵌套相关资产管理计划后协助某发行人"自融"发行。相关行为违背了发行公平、公正、公开的原则，影 响市场秩序。根据银行间债券市场相关自律规定，经自律处分会议审议，对上海寰财予以警告。 ...

Group 1: Regulatory Developments - The China Securities Regulatory Commission (CSRC) aims to enhance the attractiveness and inclusiveness of the domestic capital market by fostering long-term and patient capital, and accelerating the construction of a policy system that supports long-term investments [1] - The China Interbank Market Dealers Association issued a severe warning to Jiangsu Yuning Private Fund Management Co., Ltd. for assisting multiple issuers in non-market-based issuance, violating principles of fairness and affecting market order [1] Group 2: Corporate Actions and Developments - Standard Chartered Bank (Hong Kong) intends to apply for a stablecoin issuer license through a joint venture, Anchorpoint Financial Limited, with plans to establish a regulated stablecoin business model [2] - Tesla is reportedly disbanding its Dojo supercomputer team, opting to rely on external technology partners like NVIDIA, AMD, and Samsung for AI chip development [2] - Apple is facing a lawsuit from Fintiv, alleging that it misappropriated technology from CorFire to develop Apple Pay, with claims of breach of confidentiality agreements [2] Group 3: Financial Performance and Corporate News - Baiyun Airport reported a 6.32% year-on-year increase in passenger throughput for July, totaling 7.123 million passengers [7] - Poly Developments announced a 28.85% year-on-year decrease in signed contracts for July, with a total amount of 18.014 billion yuan [8] - Minmetals Capital reported a 41.47% year-on-year decline in net profit for the first half of the year, amounting to 525 million yuan [11] - Guanggang Gas reported a 13.44% year-on-year decline in net profit for the first half of the year, totaling 118 million yuan [12] - Lixing Co. achieved a 5.94% year-on-year increase in net profit for the first half of the year, amounting to 37.56 million yuan [13] Group 4: Market Overview - The Shanghai Composite Index experienced a slight decline of 0.12% amid narrow fluctuations, with a total trading volume of 1.71 trillion yuan, down 115.3 billion yuan from the previous trading day [14]

8月8日，中国银行间市场交易商协会发布自律处分信息：经查，上海寰财私募基金管理有限公司（以下 简称"上海寰财"）作为相关私募基金管理人，通过自身管理的私募基金嵌套相关资产管理计划后协助某 发行人"自融"发行。相关行为违背了发行公平、公正、公开的原则，影响市场秩序。根据银行间债券市 场相关自律规定，经自律处分会议审议，对上海寰财予以警告。 ...

Group 1 - The article discusses the rising trend of financial-themed short dramas, particularly focusing on a new series titled "Reborn in the Millennium, I Rely on Futures to Achieve Revenge," which has garnered significant attention in the market [2][4] - The production involves three private equity firms: Waying Investment, Shanhai Fund, and Shenhan Capital, indicating a collaboration between financial entities and entertainment [2][10] - The storyline revolves around a protagonist who faces betrayal and financial ruin, ultimately seeking revenge through futures trading, reflecting a narrative that resonates with the financial community [5][12] Group 2 - Waying Investment, established in April 2015, is led by Zhou Wei, who has a background as a notable futures trader. The firm currently manages products with a scale of 0-5 billion RMB [10][12] - Shenhan Capital has over ten years of experience in private equity management, while Shanhai Fund, founded in 2023, is relatively new but has a management team with prior experience in the industry [12] - The article highlights the popularity of financial-themed narratives in media, which often simplify complex market dynamics and can mislead investors regarding the realities of trading and investment risks [13][14]

Core Viewpoint - The private equity industry is undergoing increased regulatory scrutiny, leading to enhanced compliance standards and a stronger emphasis on the head effect among top firms [1][5]. Group 1: Regulatory Developments - Shanghai and Zhejiang have initiated self-inspection processes for private fund managers, focusing on compliance and operational standards [1][2]. - The Shanghai Securities Regulatory Bureau issued a notice mandating private fund managers to conduct self-assessments by mid-June, covering various operational aspects [2]. - The self-assessment includes specific requirements for quantitative strategies, such as ensuring beta exposure is fully covered and conducting stress tests for model risks [2][3]. Group 2: Compliance and Industry Standards - The self-assessment questionnaire includes six key areas: basic requirements, fundraising, investment transactions, internal control and risk management, information disclosure, and investor suitability [3]. - Regulatory focus is on preventing "pooling" of funds, ensuring clear asset allocation, and maintaining independent accounting for fund products [3]. Group 3: Industry Trends - The regulatory approach emphasizes "supporting the strong and limiting the weak," pushing top private equity firms to enhance their compliance capabilities [4]. - The China Securities Regulatory Commission has released an action plan aimed at promoting high-quality development in the public fund sector, which has garnered attention from private equity firms [4]. Group 4: Market Statistics - As of March 2025, there are 19,951 registered private fund managers managing 142,278 funds with a total scale of 19.97 trillion yuan [6]. - In 2023, 469 private fund management institutions have been deregistered, with a total of 1,971 deregistrations since the beginning of last year [6].

Core Viewpoint - The Shenzhen Securities Regulatory Bureau has issued a warning letter to New Power Capital Management (Shenzhen) Co., Ltd. for violations in the fundraising and management of private equity funds, including failure to file with the China Securities Investment Fund Industry Association and soliciting funds from non-qualified investors [1][5][6]. Group 1: Company Violations - New Power Capital Management (Shenzhen) Co., Ltd. failed to complete the necessary filing procedures after fundraising, which is a violation of the Interim Measures for the Supervision and Administration of Private Investment Funds [1][5]. - The company solicited funds from non-qualified investors, which contravenes regulations that stipulate private funds should only be raised from qualified investors [1][2][4]. - The company made commitments to investors regarding the protection of principal and minimum returns, which is prohibited under the relevant regulations [1][4][5]. Group 2: Regulatory Actions - The Shenzhen Securities Regulatory Bureau decided to issue a warning letter as an administrative regulatory measure against New Power Capital Management for the identified violations [1][5]. - Li Shumao, the actual controller and legal representative of the company, is held primarily responsible for the violations and has also received a warning letter from the regulatory authority [1][6]. - The company is required to enhance its operational compliance awareness and strengthen business management to prevent future violations [5][6].

以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 一、 长存（武汉）私募基金管理有限公司（简称"长存基金"）成立于2023年5月，注册资本2000万 元人民币，由长存资本（武汉）投资管理有限公司（简称"长存资本"）全资持股 。 长存资本为长江 存储科技有限责任公司（简称"长江储存"）旗下投资平台，长江储存是一家专注于3D NAND闪存设 计制造一体化的IDM集成电路企业，由此推断，长存基金的投资方向将与长江存储的业务布局相契 合，投向智能制造领域。 （资料来源：半导体行业联盟、天眼查） 二、 深圳市 罗湖私募股权投资基金管理有限公司（简称"罗湖私募"）成立于2025年4月，注册资本 2000万元人民币，由深圳市罗湖战略新兴产业投资有限公司（简称"罗湖产投"）全资持股，从股东 背景判断，该机构属于国资机构。罗湖产投为深圳市罗湖投资控股有限公司（简称"罗湖控股"）子公 司，罗湖控股是罗湖区出资设立的国有独资企业，主要通过投融资的方式，初步形成了片区综合开 发、产业空间运营、新兴产业投资、科技金 ...

Company Overview - Shenzhen ZR Investment Co., Ltd. was established in 2015, focusing on subjective long-only equity strategies with a registered capital of 10 million [6][7] - The founder and core fund manager, Wang Zhongyuan, has 32 years of experience, including 9 years in public funds and 10 years in private equity, with a cautious and flexible investment style [6][9] Development History - The company launched its first product "ZR Investment No. 1" in November 2015 and became an observer member of the Asset Management Association of China in May 2018 [7] - By February 2024, the management scale exceeded 500 million [7] Investment Philosophy & Strategies - The investment philosophy emphasizes risk control, aiming for absolute returns while maintaining a low drawdown [10][9] - The strategy includes top-down macro position timing and style rotation, alongside bottom-up selection of growth and value stocks [10][14] Core Advantages - The company boasts a long public performance record of nearly 20 years, with a historical maximum drawdown of only 18% [16][17] - It has achieved positive returns in 9 out of the last 10 years, with an annualized return rate of nearly 17% [18] - The investment approach is diversified, avoiding heavy bets on single industries or stocks, thus capturing sectoral benefits [20] Market Outlook - The company is optimistic about the Hong Kong stock market, which has seen nearly a 20% increase in major indices, driven by new core assets such as high dividend and high repurchase stocks [21] - The macroeconomic environment remains challenging, but the easing monetary policy and demand for asset allocation are expected to support bank-like assets [21][22] Value Creation for Clients - The company assists clients in timing positions to avoid systemic risks, optimizing industry allocations, and controlling drawdowns through diversified investment strategies [22]