Core Viewpoint - The recent resignation of Fang Yi as the chairman of Beiyin Wealth Management raises concerns about the company's leadership stability and its ability to implement long-term strategies, especially given its relatively short history and increasing gap in asset management scale compared to leading peers [4][6][9]. Group 1: Leadership Changes - Fang Yi resigned from his position as chairman, director, and related committee roles due to work relocation, with his resignation effective immediately upon delivery to the board [4][5]. - Fang Yi's tenure lasted less than three months, having been appointed on June 28, 2025, following the resignation of the first chairman, Bu Yanhong, who also left for work-related reasons [5][6]. - The company has experienced multiple leadership changes, including the resignation of its first president, Ju Zejun, in February 2024, and the appointment of Guo Zhentao as the new president in August 2024 [5][6]. Group 2: Asset Management Scale - As of the end of June 2025, Beiyin Wealth Management reported a total asset management scale of 434 billion yuan, reflecting an 11.5% increase from the previous year [6][7]. - Beiyin Wealth Management ranks fifth among the eight city commercial bank wealth management subsidiaries, with significant gaps compared to the top four, which are Su Yin Wealth Management (745.38 billion yuan), Ning Yin Wealth Management (601.1 billion yuan), Nan Yin Wealth Management (543.26 billion yuan), and Hang Yin Wealth Management (514.39 billion yuan) [6][7]. - The company’s net profit for the first half of 2025 was 171 million yuan, showing an 11.8% year-on-year growth, but still less than half of the profits of the top four competitors [7][8]. Group 3: Market Position and Challenges - Beiyin Wealth Management, as a subsidiary of Beijing Bank, has not matched the parent company's strong market position, as Beijing Bank has also shown signs of weakening performance compared to its peers [8]. - The company was established in November 2022, making it the newest among its competitors, and it has faced increasing challenges in closing the gap with leading wealth management firms [6][8]. - The financial industry is experiencing significant differentiation among institutions, with Beiyin Wealth Management needing to navigate a low-interest-rate environment and increasing competition to maintain its market position [9].