Group 1 - Shenzhen Securities Regulatory Bureau issued a warning letter to Shenzhen Saiya Capital Management Co., Ltd. for failing to sign fund contracts with investors during private fund activities, violating regulations [1] - Saiya Capital has faced multiple issues, including public promotion of private funds to unspecified audiences and inadequate risk assessment of investors, leading to regulatory actions against the company and its executives [2] - A case was reported where an investor, Ms. Xu, was misled by high-yield promotions and faced significant losses after being pressured to alter her risk assessment to match a higher-risk fund [2]