In the early hours of today (February 21st),Ningbo Lingjun Investment Management Partnership (Limited Partnership).(hereinafter referred to as "Ningbo Lingjun") issued an announcement apologizing for the restriction of trading by the exchange. Yesterday (20th), the Shanghai and Shenzhen Stock Exchanges announced that because Ningbo Lingjun managed ** account sold a large number of Shanghai and Shenzhen ** during the opening of the morning of February 19, violating the "Trading Rules" and other relevant regulations of the Shanghai and Shenzhen Stock Exchanges, the exchange took trading restrictions from February 20, 2024 to February 22, 2024, and launched a public censure procedure. On February 20, Ningbo Lingjun Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Lingjun") was punished by the Shanghai and Shenzhen Stock Exchanges for automatically generating trading instructions through computer programs and placing a large number of orders in a short period of time due to the automatic generation of trading instructions through computer programs for multiple ** accounts under its name. It is reported that the Shanghai and Shenzhen stock exchanges have restricted Ningbo Lingjun's trading and launched a public censure procedure. According to the report of the Shanghai and Shenzhen Stock Exchanges, from 9:30:00 to 9:31:00 on February 19, a number of product accounts managed by Ningbo Lingjun sold a large number of Shanghai market **,Total Sell 119.5 billion yuan, accounting for a higher proportion of market turnover during the period, during which the Shanghai Composite Index increased from 288659 points** to 286807 points, down 065%；From 9:30:00 to 9:30:42 on February 19, a number of ** accounts under the name of Ningbo Lingjun automatically generated trading instructions through computer programs and placed a large number of orders in a short period of timeSell *** total 137.2 billion yuanDuring this period, the SZSE Component Index fell rapidly. 
The Shanghai and Shenzhen Stock Exchanges believe that Ningbo Lingjun's relevant behavior has seriously affected the normal trading order, and decided to take trading restrictions on the relevant ** accounts under the name of Ningbo Lingjun from February 20 to February 22, restricting them from trading all ** listed on the Exchange during the above period, and initiating the procedure of public reprimand and disciplinary punishment against Ningbo Lingjun. In response to this matter, the Shanghai Stock Exchange said that it will adhere to the main responsibility and main business of supervision in accordance with the deployment requirements of the China Securities Regulatory Commission, adhere to the investor-oriented, and strictly manage violations of laws and regulations 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 accordance with laws and regulations, and jointly maintain the normal trading order of the market. The Shenzhen Stock Exchange said that it will follow the unified deployment of the China Securities Regulatory Commission, resolutely implement the requirements of "long teeth and thorns" and angular supervision, adhere to the main responsibility and main business of supervision, continue to strengthen transaction supervision, and always maintain a strict tone and a high-pressure posture of "zero tolerance" for violations of laws and regulations that affect the normal trading order of the market and damage the legitimate rights and interests of investors, and respond quickly and strike hard. At the same time, investors are reminded to participate in transactions in accordance with laws and regulations, and jointly maintain the normal trading order of the market. In response to this matter, Ningbo Lingjun issued an announcement in the early morning of February 21. The announcement said that it expressed resolute obedience to the exchange's measures. At the same time, the company attaches great importance to the problems existing in the product transaction, and has carried out deep internal reflection and review. On February 19, 2024, the company's management products were net as a whole day8.7 billion yuan, "but the trading volume within one minute of the opening of the day is large, and the company sincerely apologizes for the negative impact caused by this." At the same time, Ningbo Lingjun said that the next step of the company will be to learn lessons deeply, more carefully study relevant laws and regulations and trading rules, effectively enhance compliance awareness, and by improving the trading model, strictly control the transaction progress, transaction constraints, and control the transaction rhythm, to ensure smooth and balanced transactions in the whole process of trading, effectively maintain the normal market trading order, and fully protect the legitimate rights and interests of investors. 
Ningbo Lingjun issued an announcement in the early morning of February 21. Lingjun Investment is one of the well-known quantitative private equity giants in China. Founded in June 2014, Ningbo Lingjun is a private equity management institution focusing on quantitative investment, and is a private equity investment manager (registration number P1004526) registered in China Investment Industry Association and a member of the association. Since its establishment, it has won more than 100 top private equity honors in the industry, such as the "Golden Bull Award" of "China ** News" and the "Yinghua Award" of China ** News for many consecutive years. It is reported that Ningbo Lingjun has exceeded 10 billion yuan in 2018, and the asset management scale has exceeded 60 billion yuan by 2022. 
The performance curve of Ningbo Lingjun since its establishment. **From the private placement network, it is worth noting that since the beginning of this year, a number of leading quantitative private equity collectives have suffered a large drawdown in performance. Among them, some products of Ningbo Lingjun have also suffered losses this year, and the loss rate of "Lingjun Zhongtai Quantitative 30 Exclusive Pilot No. 8" has reached 29 since the beginning of this year83%。
Some products of Ningbo Lingjun. **From the private placement networkSouthern ***nddaily), n** report
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