competitive relationship.

Wantong Financing: Founded in 1999, it is one of China's leading comprehensive financial service institutions, mainly providing securities investment consulting, fund sales, asset management, equity investment, financial technology and other services.

Wantong Capital is listed on the Hong Kong Stock Exchange with the stock code "1088.HK" Noantong: Founded in 2010, it is a professional fund management company that mainly provides products and services such as public funds, special account funds, and overseas funds.

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The parent company of Nuoantong is Nuoantong Group, headquartered in Shanghai and one of the leading asset management institutions in China.

Both companies have certain influence and status in the capital market and financial services fields, and are both leading companies in China's financial industry.