Li Zexi or Zhongxingxing shares in the

ZTE Corporation (763) was embargoed by the United States for seven years. Chairman Yin Yimin publicly acknowledged last week that the company was in shock and the investment market was in panic. Shigekura’s Hutchison All-Affordable All-in-One Fund was listed on the first day of yesterday. It suffered a 10% decline in the price limit, and the market decline narrowed to 7.5%, and 350,000 fund holders had book losses of 3.7 billion yuan. ).

Shigekura Zhongxing Fund Limit

Xingquanyiyi was one of the hottest stock funds in the mainland this year. It raised the amount on the first day of January and raised a total of 32.7 billion yuan. The closed period of the fund is two years. During the period, investors are not allowed to redeem, but can be traded on the sidelines. It was listed on the first day of the OTC transaction yesterday. At present, there are a total of 660 funds in the Mainland holding ZTE. Xingquanyiyi holds only 1.63% of the fund’s assets. The position ratio is not at the forefront. The price of funds outside the market plunged yesterday, which means investors’ confidence in ZTE’s share price is very weak.

In addition to serious injury to the Fund, even the richest man Li Ka-shing, the richest man of the richest man, may also be affected. PCCW Chairman Li Zejun disclosed in November 2015 that through its private equity fund PineBridge, it increased its holdings to Zhongxing to 5%, with an increase in holding price of 17.562 yuan per share and an increase in holdings of approximately 50.3 million shares. Thereafter, its shareholding decreased to 4.66%. It holds approximately 35.17 million shares and no further disclosure of shareholdings thereafter. If Li Zemin’s ZTE shares have been held for now, the total value before the suspension was approximately HK$900 million. However, after the announcement of the sanctions, ZTE ADR shares have fallen by 25%, and their total value of shares has evaporated about HK$220 million.

Dragged by ZTE, A shares continued to be weak. The Shanghai Composite Index fell 3 points yesterday to 3068 points; Shencheng Index fell 78 points or 0.8% to 10330 points; the index of the China Foundry Board fell 29 points or 1.7% to 1753 points. The Shanghai and Shenzhen stock exchanges totaled 393.8 billion yuan.

Yesterday, the Political Bureau of the Communist Party of China convened an economic work conference to maintain its monetary and fiscal policies unchanged. Apart from mentioning the opening up, the meeting also mentioned the need to strengthen the key core technologies.