Recently, a number of public fundraising companies have made intensive valuation adjustments to individual stocks held by their funds. Most of these individual stocks have been suspended for a long time, have continued to decline, or are on the verge of delisting. On June 25, Huitianfu Fund announced a valuation adjustment for 7 stocks held by its funds, with zero valuations for both Country Garden and ST Changkang. Prior to that, Invesco Great Wall Fund adjusted ST Fortis's valuation price to 0 yuan/share, and ICBC Credit Suisse Fund valued Weichuang shares held by its funds at 0 yuan/share. Under the combination of regulation to support advantages and disadvantages and reduce the value of the “shell”, low price stocks and micro capitalization stocks represented by the ST sector have fallen sharply since this year. Thankfully, these individual stocks are rarely heavily invested by active equity products, while index funds and quantitative funds are held in small amounts, and the allocation weight is relatively small.