No, Shanghai Zhongyuan Capital Management Co., Ltd., located in Songxin Road, Minhang District, Shanghai, was established on 20 17, and is the first cultural industry parent fund led by a state-owned media group in China. It is not a fraudulent company. The total scale of Zhongyuan parent fund is 654.38+000 billion yuan, and the target scale of the first phase is 3 billion yuan. In addition to Shanghai newspaper industry, the main cornerstone investors also include local financial guidance funds, local state-owned assets platforms and financial institutions.