The "Decision on Taking Measures to Issue Warning Letters to Sun" issued by Zhejiang Securities Regulatory Bureau shows that when Zhejiang Securities Regulatory Bureau conducted an on-site inspection of the private placement business of Zhejiang Ultron Asset Management Co., Ltd. (hereinafter referred to as "Ultron Assets"), it was found that Ultron Assets set up a number of branches to raise funds from unqualified investors for the purpose of raising funds; Some managed private equity funds have not gone through the fund filing procedures in China Asset Management Association; Carry out the fund pool business with the characteristics of rolling issuance, collective operation, maturity mismatch and separate pricing.

As the actual controller and general manager of Ultron's assets, Sun failed to perform relevant duties and obligations cautiously and diligently, and was mainly responsible for the above-mentioned problems of Ultron's assets, which violated the relevant provisions of the Interim Measures for the Supervision and Administration of Private Investment Funds. According to the relevant regulations, Zhejiang Securities Regulatory Bureau decided to issue a warning letter to Sun and record it in the integrity file of the securities and futures market.