Regarding Guotou Silver LOF, Guo Tou Capital Announcement! Previously announced full compensation for those affected with amounts below 1,000 yuan

On February 23, Guotou Investment Capital (600061.SH) announced that the valuation adjustment of Guotou Silver Futures Securities Investment Fund (LOF), a subordinate third-level holding investment enterprise under Guotou Ruixin Fund, has attracted market attention. Guotou Ruixin Fund issued a special work plan regarding this matter on February 15, 2026. Based on preliminary estimates, this plan is expected to have a certain negative impact on the company’s net profit attributable to shareholders in 2026, with the impact amounting to less than 5% of the company’s audited net profit attributable to shareholders in 2024, and will not have a substantial effect on the company’s overall business development.

The final accounting treatment of this matter and its impact on the company’s profit in 2026 will be subject to the annual audit results. Investors are advised to pay attention to investment risks.

Earlier, on the evening of February 15, Guotou Ruixin issued an “Announcement on the Relevant Plan for Silver Fund,” disclosing the compensation plan for affected investors due to the valuation adjustment event of Guotou Silver LOF. Investors with affected amounts below 1,000 yuan will be fully compensated.

The specific plan is as follows:

1. For individual investors affected by the valuation adjustment (from -17% to -31.5%) with an impact amount below 1,000 yuan, the full settlement amount will be determined based on the actual impact amount (these investors accounted for over 90% of redemption investors on that day).

2. For individual investors affected by the valuation adjustment (from -17% to -31.5%) with an impact amount exceeding 1,000 yuan (inclusive), the total settlement amount will be calculated by adding 1,000 yuan to the excess over 1,000 yuan multiplied by a certain ratio.

3. Eligible individual investors can start from February 26, 2026, search for “Guotou Ruixin Silver Fund” mini-program on Alipay, complete identity verification as prompted, and handle the process online.

According to 21st Century Business Herald, the trigger for this incident was an epic plunge in the international silver market.

On January 30, COMEX silver futures fell by over 36% in a single day, while domestic Shanghai Futures Exchange silver futures were limited by the ±17% daily price limit, significantly constraining price fluctuations.

On the evening of February 2, Guotou Ruixin announced that it would adjust the valuation based on major international silver futures market prices. As a result, the net asset value per unit of Guotou Silver LOF plummeted from 3.2838 yuan to 2.2494 yuan on that day, a decline of 31.5%, setting a record for the largest single-day net value drop in public fund products.

This adjustment drew widespread investor attention. The controversy centered on the fact that the fund company announced the valuation adjustment after trading hours, causing investors who submitted redemption requests during the day to expect a loss of about 17%, but after market close, the actual loss was 31.5%, resulting in a “expectation gap” of 14.5 percentage points.

From the occurrence of the event on February 2 to the issuance of the plan on February 15, this highly watched public fund valuation controversy has entered a substantive resolution stage.

Source: CCTV Finance, 21st Century Business Herald

Editor: Qian Jiayue

【Source: Wen Hui】