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Core Viewpoint - The news highlights the leadership changes at Caida Securities, focusing on the departure of General Manager Zhang Ming and the company's significant growth in investment banking and asset management sectors since 2018 [2][3]. Group 1: Leadership Changes - Zhang Ming has stepped down as General Manager due to work adjustments, with his term originally set to end in December 2027 [2]. - Hu Hengsong, who has nearly 10 years of experience in the capital market, has been with Caida Securities since June 2018, holding various leadership roles [3]. Group 2: Company Performance - Since Hu Hengsong's arrival, Caida Securities has seen substantial growth in its investment banking business, particularly in bond underwriting, with the company ranking 22nd in 2024, a significant improvement from 2017 [3]. - The company has assisted local governments in Hebei province with over 800 special bond projects, raising more than 100 billion yuan in financing during the "14th Five-Year Plan" period [3]. Group 3: Regional Focus and Services - Caida Securities is the only comprehensive listed brokerage in Hebei province, focusing on the integration of investment banking, investment, industrial funds, and research to provide comprehensive solutions for local governments and enterprises [3]. - The company has established an efficient financial service system for state-owned enterprises in Henan province, helping them transition and reduce local debt risks [4].