China Securities Investment Fund Association: Cancellation of the registration of private fund managers for five institutions including Ruifengda.

On January 23, according to the China Private Equity Association, Zhejiang Ruifengda Asset Management Co., Ltd. and 5 other private fund managers were found to have abnormal business conditions and failed to submit the required special legal opinions within 3 months after receiving a written notice. The association will cancel the registration of the private fund managers for these 5 institutions. Private fund managers and related parties that have been canceled should handle the fund property under management properly in accordance with laws, regulations, regulations of the China Securities Regulatory Commission, relevant self-disciplinary rules of the association, and fund contract agreements, in order to protect the legitimate interests of investors.