On November 1, Shanghai Panyao Asset Management Co., Ltd. announced that capital market fluctuations have increased recently. Based on confidence in the long-term healthy and stable development of China's capital market and trust in the company's investment, research and risk control system, the company decided to use its own capital of not less than RMB 10 million to purchase fund products managed by the company within a reasonable period from the date of publication of this announcement.

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