The Shanghai Stock Exchange imposed trading suspension measures on Ningbo Lingjun and initiated public condemnation procedures.

　　China News Service, February 20. According to the official website of the Shanghai Stock Exchange, on February 19, the Shanghai Stock Exchange discovered during transaction monitoring that from 9:30:00 to 9:31:00, Ningbo Lingjun Investment Management Partnership (Limited Partnership) ) (hereinafter referred to as Ningbo Lingjun) managed a number of products that sold a large number of Shanghai stocks totaling 1.195 billion yuan, during which the Shanghai Composite Index fell rapidly in a short period of time. It was found that the above-mentioned transactions of Ningbo Lingjun violated Article 7.2, Item (6) of the "Shanghai Stock Exchange Trading Rules" (hereinafter referred to as the "Trading Rules") "Automatically generate or issue trading instructions through computer programs to conduct programmed transactions. Affecting the security of the Shanghai Stock Exchange system or the normal trading order" regulations.

　　According to the relevant provisions of Article 7.8 of the "Trading Rules" and the "Measures for the Implementation of Disciplinary Punishments and Supervisory Measures of the Shanghai Stock Exchange", the Shanghai Stock Exchange decided to manage Ningbo Lingjun from February 20, 2024 to February 22, 2024. Related products have continuously implemented regulatory measures to suspend investor account transactions, that is, suspend all stock transactions of related product accounts listed and traded on the Shanghai Stock Exchange during the above period, and at the same time initiate disciplinary procedures to publicly condemn Ningbo Lingjun.

　　The Shanghai Stock Exchange will follow the deployment requirements of the China Securities Regulatory Commission, adhere to its main regulatory responsibilities and main business, adhere to the investor-oriented approach, and strictly control illegal activities that affect the smooth operation of the market and damage the legitimate rights and interests of investors. At the same time, investors are reminded to trade in compliance with laws and regulations and jointly maintain the normal trading order of the market.