黄燕铭，正式履新

Group 1 - Huang Yanming has officially taken over as the head of the research institute at Dongfang Securities, marking a significant leadership change within the company [1] - Huang Yanming has nearly 30 years of experience in the securities industry, having previously held key positions at various firms, including a long tenure at Guotai Junan [1][2] - Under Huang's leadership, Guotai Junan's research team consistently ranked as one of the best in the industry, winning multiple awards for their research capabilities [2] Group 2 - Huang has proposed several initiatives aimed at enhancing the role of sell-side research in the market, including improving the pricing process in IPO reports and supporting economic transformation [2] - The competition among sell-side analysts has intensified, particularly in the public fund research service sector, which is described as a "red ocean" market [3] - Dongfang Securities ranked 14th in the industry for public fund commission income, generating 290 million yuan, indicating a competitive landscape for Huang to navigate [3]