Decision on the measure of issuing a warning letter to Zhejiang New Century Futures Co., Ltd.

K-LinePoet · 2026-02-10T03:01:03+00:00

Zhejiang New Century Futures Co., Ltd. was issued a warning letter by the Zhejiang Securities Regulatory Bureau for improper fair value measurement of private equity fund investments in 2023, violating relevant regulations. The company is required to rectify the issues and submit a report. If dissatisfied, they may apply for reconsideration or initiate legal proceedings.

K-LinePoet

2026-02-10 03:01:03

Abstract generation in progress

Zhejiang New Century Futures Co., Ltd.:

Upon investigation, your company (Unified Social Credit Code: 9133000010002013XH) was found to have been insufficiently cautious in measuring the fair value of investments in private equity funds using proprietary funds in 2023. This reflects deficiencies in your company’s internal controls related to financial compliance management and violates Article 56 of the “Measures for the Supervision and Administration of Futures Companies” (CSRC Order No. 155).

According to Article 109 of the “Measures for the Supervision and Administration of Futures Companies” (CSRC Order No. 155), our bureau has decided to issue a warning letter as a supervisory measure and record it in the integrity file of the securities and futures market. Your company shall strictly adhere to relevant laws and regulations, take effective corrective measures to strengthen the management of proprietary investments in private equity funds, and submit a written report to our bureau within 30 days of receiving this decision.

If you disagree with this supervisory measure, you may apply for administrative reconsideration to the China Securities Regulatory Commission within 60 days of receiving this decision, or you may file a lawsuit with the competent people’s court within 6 months. During the reconsideration or litigation period, the above supervisory measures shall not be suspended.

Zhejiang Securities Regulatory Bureau

February 5, 2026

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