英大基金董事大调整：新增四董事 范育晖角色有变 业务结构失衡难题仍待解

Core Viewpoint - The announcement from Yingda Fund Management Co., Ltd. regarding significant changes in its board of directors raises concerns about the stability of corporate governance, as over 50% of the board members have changed within the last 12 months [1][3]. Group 1: Board Changes - The board restructuring follows a "two out, four in" pattern, with Zhang Tongyu and Ma Tao resigning from their positions [3]. - The new board members appointed by the shareholder State Grid Yingda International Holdings Group include Fan Yuhui, Li Bin, Zhou Ze, and Zheng Lei, indicating a strengthened control by the parent company [3]. - The complete list of the fourth board members after the changes includes Qiao Fadong, Fan Yuhui, Li Bin, Zhou Ze, Zheng Lei, Zhang Haiying, He Qiang, Song Guoliang, and Zhou Kaiguo [3]. Group 2: Governance and Management - The removal of the supervisory board and the dismissal of certain supervisory roles are described as normal operational procedures, with the company no longer having a supervisory board [4]. - Fan Yuhui's dual role transition is noteworthy, as he steps down from being an employee representative on the board while simultaneously being appointed as a shareholder-nominated director [7]. - The new management team led by Fan Yuhui is expected to find a balance between governance stability and strategic innovation, particularly in enhancing the competitiveness of equity products while maintaining fixed-income advantages [8]. Group 3: Business Structure - Yingda Fund, established in August 2012 with a registered capital of 1.146 billion yuan, is fully owned by State Grid Yingda International Holdings Group [6]. - As of June 30, 2025, the company's asset management scale reached 61.39 billion yuan, with non-monetary asset management at 45.711 billion yuan, ranking 78th among 162 public fund companies [6]. - The company exhibits a "strong bonds, weak stocks" structure, with bond funds comprising 73% of total assets, while equity products have significantly shrunk, with mixed funds at 332 million yuan and stock funds at 639 million yuan [6].