Core Viewpoint - The recent trend of public fund companies, including Rongtong Fund, closing local branches reflects a strategic adjustment in the industry, aiming to enhance efficiency and compliance amid changing market dynamics [1][4][6]. Group 1: Company Actions - Rongtong Fund announced the closure of its Chengdu branch as part of its strategic development plan, with the necessary legal and regulatory procedures completed [2]. - The company has seen significant management changes, including the appointment of Fang Yizu as the new Chief Compliance Officer and the departure of the financial head Wang Zhikun [3]. Group 2: Industry Trends - There has been a noticeable increase in public fund companies closing local branches, with several firms like Jiutai, Hongli, and Xinhua also taking similar actions in various regions, indicating a broader trend of consolidation in the industry [5]. - The closures are not indicative of a shrinking industry but rather a strategic optimization driven by factors such as cost reduction and the evolving competitive landscape [6]. Group 3: Market Analysis - Analysts suggest that the decline in the effectiveness of physical branches for customer acquisition, especially in major cities, has led to a reevaluation of branch operations by fund companies [6][7]. - The current wave of branch closures is seen as a necessary phase in the transition of the public fund industry from rapid growth to a focus on high-quality development, reflecting a shift towards more concentrated and intelligent channel strategies [7].