No, according to Tianyancha, Henan Cultural Industry Development Foundation is legally registered and certified by the Ministry of Industry and Information Technology. Holding formal and legal business documents is a legitimate enterprise. Henan Cultural Industry Development Foundation was established on February 29th, 2007. Its business scope is to raise funds according to law and sponsor cultural public welfare activities. Its purpose is to raise and manage donated funds, in-kind and value-added income according to law, and provide financial support and incentives for Henan cultural industry.