[5] In 2016, High-Flyer experimented with a multi-factor price-volume based model to take stock positions, began testing in trading the following year and then more broadly adopted machine learning-based strategies.

[11] At the end of 2021, High-Flyer put out a public statement on WeChat apologizing for its losses in assets due to poor performance.

[12][5] In addition the company stated it had expanded its assets too quickly leading to similar trading strategies that made operations more difficult.

[11] In July 2024, High-Flyer published an article in defending quantitative funds in response to pundits blaming them for any market fluctuation and calling for them to be banned following regulatory tightening.

High-Flyer stated it held stocks with solid fundamentals for a long time and traded against irrational volatility that reduced fluctuations.

[16] In October 2024, High-Flyer shut down its market neutral products, after a surge in local stocks caused a short squeeze.

[20] The rival firm stated the former employee possessed quantitative strategy codes that are considered "core commercial secrets" and sought 5 million Yuan in compensation for anti-competitive practices.