光证资管退出公募牌照申请！

Core Viewpoint - The withdrawal of public fund license applications by both Guangfa Asset Management and Everbright Securities Asset Management highlights challenges in the asset management industry, particularly in the context of regulatory scrutiny and market conditions [1][5][8]. Group 1: Company Developments - Everbright Securities Asset Management (光证资管) has been removed from the list of institutions approved for public fund management qualifications by the China Securities Regulatory Commission (CSRC) [1][8]. - Guangfa Asset Management was the first to withdraw from the public fund license application process in August 2025, followed by Everbright Securities Asset Management, marking the end of a two-year and four-month application journey for the latter [5][8]. - As of the end of 2024, Everbright Securities Asset Management reported a revenue of 675 million yuan and a net profit of 219 million yuan, with a total asset management scale of 311.4 billion yuan, reflecting a growth of 3.71% from the beginning of the year [2][4]. Group 2: Industry Context - The "one participation, one control, one license" policy implemented in May 2022 has accelerated the process for securities firms to apply for public fund licenses, with several firms submitting applications [7]. - Currently, only two firms, Guozheng Asset Management (国证资管) and Guojin Asset Management (国金资管), remain in the queue for public fund licenses after the withdrawals of Guangfa and Everbright [8][9]. - A total of three securities firms and eleven subsidiaries have been granted public fund management qualifications, indicating a competitive landscape in the asset management sector [9][10].