The 60 billion private equity giant sold more than 2.5 billion yuan of shares in 60 seconds, and the index was also knocked down, and the Shanghai and Shenzhen stock exchanges were furious: restricting trading and publicly condemning it
On the first trading day of the Year of the Dragon, 2.567 billion yuan of shares were sold within 1 minute of opening, and Ningbo Lingjun, one of the top quantitative private placements in China, invested in A-shares!
After the market on February 20, the Shanghai and Shenzhen Stock Exchanges notified Lingjun Investment of the A-share market that it was smashed within a short period of time after the opening of the market on Monday, and both restricted its trading and launched a public censure procedure.
Sold 2.567 billion yuan of shares in 60 seconds
The Shanghai Stock Exchange and the Shenzhen Stock Exchange have all taken action
On February 20, the Shenzhen Stock Exchange restricted Ningbo Lingjun from trading and launched a public censure procedure.
On February 19, the Shenzhen Stock Exchange found in the transaction monitoring that from 9:30:00 to 9:30:42, multiple securities accounts under the name of Ningbo Lingjun Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Lingjun") automatically generated trading instructions through computer programs, placed a large number of orders in a short period of time, and sold a total of 1.372 billion yuan of Shenzhen stock stocks Abnormal trading behavior as specified in Paragraph 6 of Article 6.2.
Shenzhen Component Index at 9:30 on February 19 (red circle) minute-level K-line chart
Since the beginning of this year, the securities account under the name of Ningbo Lingjun has been repeatedly taken by the Exchange for abnormal trading behaviors and other regulatory measures, but it has not been corrected and abnormal trading behaviors continue to occur.
In accordance with the Detailed Rules for the Implementation of Restricted Transactions, the Implementation Measures for Self-Regulatory Measures and Disciplinary Actions and other relevant provisions of the Exchange, the Exchange has decided to take trading restrictions on the relevant securities accounts under the name of Ningbo Lingjun from February 20, 2024 to February 22, 2024, restricting it from trading all stocks listed and traded on the Exchange during the above period, and initiating the procedure of public reprimand and disciplinary action against Ningbo Lingjun.
In accordance with the unified deployment of the China Securities Regulatory Commission, the Shenzhen Stock Exchange will 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 situation 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.
At the same time, the Shanghai Stock Exchange also restricted Ningbo Lingjun from trading and initiated a public censure procedure.
On February 19, the Shanghai Stock Exchange found that from 9:30:00 to 9:31:00, a number of products managed by Ningbo Lingjun Investment Management Partnership (Limited Partnership) (hereinafter referred to as Ningbo Lingjun) sold a total of 1.195 billion yuan of Shanghai stocks, during which the Shanghai Composite Index fell rapidly in a short period of time. It was found that the above-mentioned transaction of Ningbo Lingjun violated Article 7.2 (6) of the Trading Rules of the Shanghai Stock Exchange (hereinafter referred to as the "Trading Rules"), which stipulates that "programmed trading is carried out through the automatic generation or issuance of trading instructions by computer programs, which affects the security of the Exchange's system or normal trading order".
Shanghai Composite Index at 9:30 on February 19 (red circle) minute-level K-line chart
In accordance with Article 7.8 of the Exchange Rules and the relevant provisions of the Measures for the Implementation of Disciplinary and Regulatory Measures of the Shanghai Stock Exchange, the SSE has decided to continuously suspend the trading of investors' accounts for the relevant products managed by Ningbo Lingjun from February 20, 2024 to February 22, 2024, that is, to suspend all stock trading of the relevant product accounts listed on the Shanghai Stock Exchange during the above-mentioned period, and at the same time initiate the disciplinary procedure of public reprimand of Ningbo Lingjun.
In accordance with the deployment requirements of the China Securities Regulatory Commission, the Shanghai Stock Exchange will adhere to the main responsibility and main business of supervision, 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 the law and jointly maintain the normal trading order of the market.
It is a well-known quantitative private equity giant in China
The assets under management exceed 60 billion
It is reported that Lingjun Investment is one of the well-known quantitative private equity giants in China.
According to the official website, Ningbo Lingjun Investment Management Partnership (Limited Partnership) (hereinafter referred to as Lingjun Investment) is a private equity fund management institution focusing on quantitative investment, and is committed to better helping high-net-worth clients with asset management. Founded in June 2014, the company is a private securities investment fund manager (registration number P1004526) registered with the Asset Management Association of China and a member of the association. Since its establishment, the company's investment and research strength and asset management scale have been steadily improved, and it has won more than 100 top private equity honors in the industry, such as the "Golden Bull Award" of China Securities Journal and the "Yinghua Award" of China Fund News.
Lingjun Investment gathers first-class professionals in the market and has a top quantitative investment team. The investment researchers graduated from Stanford, Harvard, Cambridge, MIT, Princeton, National Singapore, Tsinghua University, Peking University, Zhejiang University and other world-renowned universities, with master's and doctoral degrees accounting for more than 85%, with a deep mathematical background, advanced and rich investment experience, with an average of more than 10 years of experience, of which the core team has more than 18 years of experience.
Lingjun Investment has exceeded 10 billion yuan in 2018, and the asset management scale has exceeded 60 billion yuan by 2022. Ma Zhiyu, Chief Investment Officer, previously worked at WorldQuant, a subsidiary of Millennium Partners, a well-known hedge fund in the United States, and successively served as Deputy Director of Global Research, Deputy General Manager of China, and Director of Research in China.
Previously, Lingjun Investment was also caught in the storm of "executive derailment and domestic violence".
According to a report by Jiemian News on December 2, 2023, judging from the relevant screenshots circulating on the Internet, at noon on November 30, some netizens posted on social media that they cheated on love in marriage with a financial tycoon and begged for blessings. The article mentions that "he is a financial man, a certain bigwig in Lingjun, an annual income of 7-8 figures, a master's degree in MIT, a former employee of Two sigma, a 10 billion fund management, study abroad + work experience in the United States, and Canadian nationality".
On the evening of the same day, another netizen broke the news that "Mr. Mou, an executive of Lingjun Investment, met in 2020 and registered his marriage on February 22, 22", the netizen mentioned, "After marriage, my husband looks like a good gentleman and a good husband outside, and actually insults and scolds me every day."
In this regard, on the evening of December 1, Lingjun Investment issued a statement saying that the parties involved were not executives of the company, but ordinary employees. At present, the employee has voluntarily applied to the company to resign, and there will be no impact on the company's operation management and product operation.
Editor|Duan Lian Du Hengfeng
Proofreading|Lu Xiangyong
Cover image: Visual China (not related to the picture or text)
The daily economic news integrates the official website of the Shanghai Stock Exchange, Shenzhen Stock Exchange, Lingjun Investment, interface news, public information, etc
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