The public offering of Mingya Fund became the first Public Offering of Fund company approved for establishment in 20 19. According to the inquiry of relevant public information, after the second approval of Mingya Fund, the approved shareholding structure of Mingya Fund changed, with Li Zhengqing, Hong Xiao and Yuan Jian holding 46%, 34. 1% and 15% respectively, and Tibet Hou Yuan Capital Management Co., Ltd. holding 4.9%, making Mingya Fund one of the new fund companies with more shares held by natural persons.