Caixin: Qian Fenglei's Fofund fund financial products shut down
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最新报道：According to Caixin, Zhejiang businessman Qian Fenglei and several companies under his control, including Hengfeng International, were previously reported for allegedly selling a number of collective investment plans that were not approved by the Hong Kong Securities Regulatory Commission to the public in Hong Kong. According to Caixin's latest understanding, Fofund, a fund wealth management product platform under the Web3 ecosystem FO-X (fo.com) built by Hengfeng International, issued a service change notice to investors on July 23, 2025, that is, Fofund's fund wealth management products "Duoduo No. 1" and "Duoduo No. 2" as fund managers announced the closure and refund. Sources close to Fofund also revealed to Caixin that the report on Qian Fenglei and Hengfeng International has been accepted by the Hong Kong Securities Regulatory Commission and the Market Supervision Department of the Hong Kong Stock Exchange, and the relevant agencies have further requested materials. Caixin has sent an inquiry to the Hong Kong Securities Regulatory Commission, but has not received a response before press time.
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