Core Viewpoint - Yongying Fund has rapidly grown in both scale and performance, achieving significant milestones in a challenging market environment, showcasing its strong internal growth dynamics and strategic positioning in the fund management industry [2][3][35]. Group 1: Company Growth and Performance - Yongying Fund's non-monetary fund scale increased from less than 3.5 billion yuan at the end of 2016 to over 34 billion yuan by the first quarter of 2025, marking a nearly 100-fold growth and placing it among the top 18 in the industry and third among bank-affiliated firms [2]. - The fund has launched several high-performing products, including Yongying Ruixin, Yongying Advanced Manufacturing Select, and Yongying Digital Economy Select, with equity investment performance rising against market trends [1][2]. - The company has achieved this growth during a period of overall industry contraction, indicating its ability to thrive in adverse conditions [2]. Group 2: Talent and Team Structure - Yongying Fund has built a strong research and investment team led by notable figures such as Gao Nan, Wu Wei, Liu Xingyu, and Cai Leping, fostering a collaborative environment that enhances morale and performance [2][8]. - The average age of the management team is over 40, while the average age of employees is over 30, creating a dynamic and motivated workforce focused on client needs [8]. - The company emphasizes internal promotions and talent development, having promoted several fund managers in recent years to strengthen its investment capabilities [33]. Group 3: Product Strategy and Innovation - Yongying Fund has adopted a proactive approach to product development, covering a wide range of mainstream products, including active equity, fixed income, absolute return, and quantitative index products [2]. - The company has successfully launched innovative products such as the first low-altitude economy ETF, demonstrating its ability to identify and capitalize on emerging market opportunities [10]. - The "Product Meeting" is a crucial platform for discussing product positioning and ensuring alignment across departments, which has led to significant adjustments in the fund's equity business strategy [12][13]. Group 4: Organizational Culture and Development - Yongying Fund fosters a culture of open communication and collaboration, encouraging team members to share insights and experiences, which enhances overall team performance [31][33]. - The company has implemented a transparent internal promotion system and rigorous performance evaluation methods to motivate its research team [33]. - Continuous discussions and reflections on the investment process have led to a more adaptable and responsive organizational structure, positioning Yongying Fund for future growth [34][35].