【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容的准确性、可靠性或完整性提供任何明 示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱：news_center@staff.hexun.com | | | 海南海澄产业转型基金合伙企业(有限合伙) | × 查 下 | | 、应用· | | | --- | --- | --- | --- | --- | --- | --- | | 基本信息 7 | 法律诉讼 | 经营风险 | 经营信息 | 企业发展 1 | 知识产权 | | | 执行事务合伙人 | 海南农垦基金管理有限公司 | 登记状态 | 存续(在营、开业、在册) | 成立日期 | | 2025-09-30 | | | 委派代表:曹望 | 出资额 | 300000万元 | 实缴资本 | | | | 组织机构代码 | MAEXLKQN-5 | 工商注册号 | 469027001329369 | 纳税人识别号 | | 91460000MAEXLKQN5E | | 企业类型 | 有限合伙企业 | 营业期限 | 2025-09-30 至 2035-09-30 ...

与银行理财规模同步增长的，还有基金产品的规模。9月25日，中国证券投资基金业协会发布的数据显 示，截至2025年8月底，我国公募基金资产净值合计36.25万亿元，再创新高。这是我国公募基金总规模 今年以来第五次创下历史新高，也是公募基金规模首次突破36万亿元。 值得一提的是，自2024年9月底以来，公募基金规模持续增长。2024年12月底，公募基金规模达32.83万 亿元。2025年7月底，公募基金总规模突破35万亿元大关。与7月底相比，8月公募基金规模增长约1.2万 亿元。 国庆期间，家住西北某省会城市的张女士，申请提前支取10万元定期存款。近一年来，张女士的子女和 身边的朋友，通过理财都获得了不错的收益，这让张女士也有些动心，决定先用10万元存款"试试水"。 张女士的情况并非个例。"十四五"期间，中国居民理财观念经历了一场变革：银行理财规模突破30万亿 元，公募基金站上36万亿元新高，私募基金走向专业化。这组数字背后，是普通人从"唯存款"转向多元 配置的五年，是百姓财富观念重塑的五年。 理财、基金规模持续攀升 银行业理财登记托管中心此前发布的《中国银行业理财市场半年报告(2025年上)》显示，截至2025 ...

2025年8月，在中国证券投资基金业协会（以下简称协会）资产管理业务综合报送平台（以下简称 AMBERS系统）办理通过的机构8家，其中，私募证券投资基金管理人3家，私募股权、创业投资基金 管理人5家。2025年8月，注销私募基金管理人94家。 （二）私募基金管理人存续情况 截至2025年8月末，存续私募基金管理人19,614家，管理基金数量137,922只，管理基金规20.73万亿元。 其中，私募证券投资基金管理人7,684家；私募股权、创业投资基金管理人11,740家；私募资产配置类基 金管理人6家；其他私募投资基金管理人184家。 （三）私募基金管理人地域分布情况 来源：上海证券报·中国证券网 截至2025年8月末，已登记私募基金管理人数量从注册地分布来看（按36个辖区），集中在上海市、北 京市、深圳市、浙江省（除宁波）、广东省（除深圳）和江苏省，总计占比达72.27%，略高于7月份的 72.20%。其中，上海市3,682家、北京市3,225家、深圳市2,953家、浙江省（除宁波）1,562家、广东省 （除深圳）1,553家、江苏省1,201家，数量占比分别为18.77%、16.44%、15.06%、7. ...

每经编辑｜段炼 两年前震惊市场的"杭州30亿量化私募"跑路事件，相关细节近日曝光。 最高人民检察院近日在微信公众号发布信息称，杭州"30亿元量化私募跑路"涉事人——磐京股权投资基金管理（上海）有限公司（简称"磐京投资"）的实 控人毛某和姚某，利用FOF基金、私募基金操纵证券市场，甚至在被控制后自恃手法隐蔽复杂，拒不交代任何犯罪事实。 最终，最高人民检察院通过全方位实质审查、全流程追赃挽损，侦破了这场资本迷局，以操纵证券市场罪分别判处毛某、姚某、白某某有期徒刑七年至三 年六个月不等。 在证监会查处时 叫嚣"有本事就定我的罪" 然而，2020年底，毛某发现"企鹅"股票连续跌停。为维持股价，毛某、姚某分别在沈阳、大连、上海、杭州等地组建操盘交易团队，白某某主要负责具体 对接配资资金、管理证券账户等。他们利用资金优势、持股优势，以大量集中交易等方式，试图操纵股价。 事实上，这些动作早已进入证券监管部门的视野。毛某、姚某二人曾因违规增持分别被监管部门处罚1500万元。二人不服，甚至在证监会查处其杭州操盘 点时，提前销毁了大量证据，"30亿元量化私募跑路"的传闻随之而来。 为了筹集更多资金，毛某找到基金圈内颇有名气的上海 ...

Group 1 - The article discusses the current adjustment phase of the Chinese real estate market and suggests that understanding the U.S. experience could provide valuable insights for addressing both short-term issues and long-term trends [4] - It emphasizes the importance of analyzing debt issues in relation to housing prices, noting that structural changes in debt are more significant than total trends [5][7] - The U.S. housing market has seen a significant increase in household leverage, rising from 44% in 1971 to an estimated 70% by the end of 2024, primarily due to declining long-term interest rates [7] Group 2 - The article highlights that the relationship between housing prices and interest rates is evident, with the U.S. rent-to-price ratio declining and the housing price-to-income ratio increasing from 2.5 times in the 1980s to 4.5 times currently [10] - It notes that the annual compound growth rate of real estate-related loans in the U.S. has been approximately 7.3% over the past 50 years, with a significant shift from indirect to direct financing [13] - The article outlines that direct financing has grown significantly faster than indirect financing, with annual compound growth rates of about 12% for direct financing compared to 5% for indirect financing since 1971 [13] Group 3 - The article discusses the cyclical nature of debt accumulation and the importance of innovative liquidity supply mechanisms to stabilize the market after economic fluctuations [15] - It points out that the evolution of financing channels and liquidity supply mechanisms in the U.S. real estate market over the past 50 years has been a key theme, with financial innovations being adopted by other countries [15][17] - The necessity for reform and innovation during crises is emphasized, along with the competitive advantages of direct financing and the stability provided by a multi-channel financing system [17] Group 4 - The article draws parallels between U.S. financial crisis responses and potential strategies for China, highlighting the importance of asset and liability-side rescue measures for troubled institutions [18] - It notes that the U.S. experience during the 2008 financial crisis, where the Treasury injected $187.5 billion into Fannie Mae and Freddie Mac, resulted in over $300 billion in dividends by 2024, showcasing effective rescue outcomes [18] - The article also discusses the differences in development stages between the U.S. and China, indicating that China still has significant financing needs due to ongoing urbanization [19]

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登录新浪财经APP 搜索【信披】查看更多考评等级 专题：2025金融教育宣传周：保障金融权益 助力美好生活 基金行业在行动 为全面贯彻落实党的二十大和二十届二中、三中全会精神以及中央经济工作会议、中央金融工作会议部 署，深刻把握金融工作政治性、人民性，践行以人民为中心的价值取向，磐松资产积极响应号召，统筹 开展以"保障金融权益，助力美好生活"为主题的金融教育宣传周活动。 磐松资产始终聚焦投资者权益保护，持续开展投资者教育与适当性管理工作，不断加强内部合规培训， 持续提升员工服务水平。同时，公司坚持通过知识科普引导投资者树立理性投资观念，并将投教阵地前 移，主动深入社区，针对老年人、大学生等需要重点关注的群体开展线下活动，助力群众远离非法金融 侵害，切实履行金融机构的责任担当。 普及基金知识 倡导理性投资 磐松资产始终秉持投资者利益优先的原则，在本次金融教育宣传周期间，特别围绕"规范营销行为，强 化适当性管理"主题，整理了私募基金投资中需重点关注的四大核心要点，助力投资者增强风险防范意 识，识别合规机构，树立理性投资观念。 查备案：验明机构正身。所有正规私募机构均需在中国证券投资基金业协会备案，可登录中基协官网 ...

Core Insights - The press conference highlighted significant achievements in the financial sector during the "14th Five-Year Plan" period, particularly in capital market reforms and investor protection measures [1][3][5]. Group 1: Public Fund Reforms - The China Securities Regulatory Commission (CSRC) announced the completion of a three-phase fee reduction reform for public funds, which began in July 2023 and will conclude in September 2025, aiming to save investors approximately 45 billion yuan annually [3][4]. - The first two phases of the reform have already led to reductions in management fees, custody fees, and transaction commission rates for public funds [3][4]. - The reforms are designed to shift the focus of public funds from "scale" to "returns," enhancing the quality of development in the public fund sector [4][5]. Group 2: Private Fund Risk Management - The CSRC reported the successful clearance of around 7,000 "zombie" private fund institutions, effectively mitigating new risks in the private fund sector [4][5]. - Since the beginning of 2025, 853 private funds have been deregistered, with 451 voluntarily and 332 by the association, indicating a proactive approach to risk management [4][5]. - The implementation of new regulations, including the Securities Law, has contributed to a more robust legal framework for the capital market [4][5]. Group 3: Investor Protection Measures - The CSRC has introduced various measures to strengthen investor protection, including advance compensation systems and strict accountability for intermediaries [6][7]. - Notable cases, such as the compensation of approximately 2.46 billion yuan to investors in the Kangmei Pharmaceutical case, demonstrate the effectiveness of these protective measures [6][7]. - The regulatory environment has seen increased scrutiny of brokerage firms, with 76 regulatory letters issued in the past year addressing violations in initial public offerings [7]. Group 4: Market Openness and Future Outlook - The "14th Five-Year Plan" period has seen the removal of foreign ownership limits in the financial sector, enhancing the openness of China's capital markets [7]. - The CSRC has approved 13 foreign-controlled securities and fund institutions to operate in China, expanding the market's global reach [7]. - The press conference served to boost investor confidence in the capital market's current and future development, with expectations for continued reforms in the upcoming "15th Five-Year Plan" [7].

Group 1 - The event "Focusing on Five Major Articles, Educating Investors to Support a Financially Strong Nation" was successfully held by Hechuang Fund in collaboration with the Guangxi Securities and Futures Fund Association, attracting over 100 participants [1][6] - The activities included innovative formats such as scenario plays and simulated investment games to engage the public, alongside lectures on private fund investment [1][4] - The event aimed to enhance investors' risk recognition abilities through case analysis and interactive Q&A sessions [1][2] Group 2 - The theme "Guaranteeing Financial Rights and Supporting a Better Life" was emphasized, with a focus on educating the public about common fraud methods and legal regulations for qualified investors [2][4] - A special consultation desk was set up to distribute anti-fraud manuals and reveal common scams, helping to improve financial analysis skills and risk prevention awareness among attendees [2][4] - The event also targeted specific demographics, including the elderly, small businesses, and university students, providing tailored anti-fraud courses and legal consultation services [4][6] Group 3 - Hechuang Fund is committed to investor protection and education, conducting both online and offline activities to promote knowledge about private fund suitability management [6][7] - The series of educational activities received positive social feedback and effectively improved investors' understanding of the compliance operations of private funds [6][7] - Future plans include continuing diverse investor protection and education initiatives, ensuring thorough implementation of regulatory requirements [7]

Core Viewpoint - The recent exposure of details regarding the "30 billion quantitative private equity fund run" incident reveals the manipulation of the securities market by the involved parties, leading to significant legal consequences for the perpetrators [1][3][5]. Group 1: Incident Overview - The involved parties, including the actual controllers Mao and Yao of Panjing Investment, utilized FOF funds and private equity funds to manipulate the stock market, specifically targeting a stock code-named "Penguin" [1][3]. - From November 2017 to July 2019, the perpetrators controlled 55 accounts to trade the "Penguin" stock, eventually becoming one of its major shareholders by September 2020 [3][4]. Group 2: Legal Proceedings - The Shanghai First Intermediate Court sentenced Mao, Yao, and another accomplice to prison terms ranging from three years and six months to seven years for manipulating the securities market, along with fines between 1.5 million to 2.5 million yuan [5][6]. - Despite their refusal to confess, the Supreme People's Procuratorate utilized advanced AI tools to analyze the structure and operations of the involved funds, leading to a thorough investigation and eventual convictions [5][6]. Group 3: Industry Implications - The case has highlighted a black and gray industrial chain involving illegal financing practices through FOF and private equity funds, indicating a need for stricter regulatory oversight in the private equity sector [6][7]. - Regulatory bodies have intensified their scrutiny of private equity fund operations, aiming to eliminate illegal practices and promote healthy development within the industry [7][8].