As far as we know, the maximum sales volume of single-phase private financing products depends on relevant laws, regulations and regulatory provisions.

In China, the issuance and sales of private equity funds are strictly regulated, and private wealth management products are no exception. According to the relevant regulations of China Securities Regulatory Commission, there are strict restrictions on the raising scope, the number of investors and the raising period of private equity funds. For the sales volume of single-phase private financing products, it is also necessary to comply with relevant regulations to ensure the compliance operation of private equity funds and the legitimate rights and interests of investors. Therefore, due to different regulators and regulations, the specific sales ceiling may be different.