Related to the non-standard operation of private equity management, Minmetals Securities has been suspended for the record of new private equity asset management products for 6 months.

Fanfei News Agency, June 9, Shenzhen Securities Regulatory Bureau issued a decision to order Minmetals Securities Co., Ltd. to correct and suspend the filing of new private equity asset management products: after investigation, Minmetals Securities has the following problems: first, the operation of private equity asset management business is not standardized. Second, the internal control mechanism of corporate bond business is not perfect. The underwriting fee of individual co-lead underwriting project is lower than the company's constraint line, and there are cases where the issuer issues an explanation of the highest coupon rate, obtains the latest date of the letter of disagreement, and pays a deposit to the issuer. Shenzhen Securities Regulatory Bureau decided to take administrative regulatory measures to order Minmetals Securities to correct and suspend the filing of new private equity asset management products for six months (except for newly issued products to continue outstanding assets invested in stock products, but no new investment), the suspension period is from June 5 to December 4, 2023.