Core Viewpoint - The announcement of Ye Cai as the new chairman of Invesco Great Wall Fund marks a significant leadership change within the company, which is expected to influence its strategic direction and operational performance [2][4]. Group 1: Leadership Change - Ye Cai officially took over as chairman of Invesco Great Wall Fund on August 4, 2023, following the board's approval [2]. - Ye Cai has extensive experience in the finance sector, having held various positions within China Huaneng Group and other financial institutions [3][4]. - The previous chairman, Li Jin, stepped down due to the expiration of his term, with General Manager Kang Le temporarily assuming responsibilities [4]. Group 2: Company Performance - As of the end of Q1 2023, Invesco Great Wall Fund's public fund management scale exceeded 600 billion yuan, reaching 649.968 billion yuan by July 24, 2023 [5]. - The company has seen a significant increase in its bond fund management scale, which rose from just over 100 billion yuan in early 2022 to 231.72 billion yuan [5]. - However, the mixed fund scale has halved since the end of 2021, dropping to 107.233 billion yuan by Q2 2025 [5]. Group 3: Financial Performance - Invesco Great Wall Fund's revenue and net profit have declined for three consecutive years since 2022, with revenue falling from 4.52 billion yuan in 2021 to 3.373 billion yuan in 2024, a decrease of 25.36% [5]. - Net profit also decreased from 1.402 billion yuan in 2021 to 0.95 billion yuan in 2024, representing a decline of 32.25% [5]. Group 4: Key Personnel Changes - The stability of the core investment research team has been challenged, particularly with the resignation of star fund manager Bao Wuke in May 2023 [5]. - Another prominent fund manager, Liu Yanchun, has been with the company for over 10 years, but his managed assets have decreased from over 100 billion yuan to 45.354 billion yuan as of June 28, 2025 [6].