Due to violations in the conduct of private equity fund business, Yixiang Asset and responsible persons received a warning letter from the regulatory authorities.

On November 6, the Zhejiang Securities Regulatory Bureau issued an announcement stating that after investigation, Zhejiang Yixiang Asset Management Co., Ltd. was found to have engaged in the behavior of raising funds from the public and investing in some limited partnerships while acting as a general partner and managing partner in private equity fund business, and failed to register with the China Securities Investment Fund Industry Association for private equity fund filing. They also raised funds from unqualified investors, promoted guaranteed principal and returns during the fundraising process, and engaged in fund pool operations with characteristics such as rolling issuance, collective operation, mismatched terms, and separate pricing. The above behaviors violated relevant regulations. The Zhejiang Securities Regulatory Bureau decided to issue a warning letter and impose supervisory measures on Yixiang Asset Management, and record this in the securities and futures market integrity file. At the same time, the Zhejiang Securities Regulatory Bureau pointed out that Lou Gongwang, as the legal representative and executive director of the company, failed to diligently fulfill his duties and obligations, and bears major responsibility for the company's above issues. It was decided to issue a warning letter and impose supervisory measures on him, and record this in the securities and futures market integrity file.