Core Viewpoint - The recent management and board changes at Xinjiang Qianhai United Fund are linked to the acquisition by Shanghai Securities, which is expected to enhance the company's governance and operational capabilities, potentially leading to business expansion in the future [1][5][6]. Management Changes - On October 15, Xinjiang Qianhai United Fund announced the departure of General Manager Wu Yucun, with He Guoling appointed as the new General Manager and acting Chairman [4]. - He Guoling has over 20 years of experience in the financial industry, having held various senior positions in multiple financial institutions [3][4]. - The board of directors also underwent significant changes, with several new members appointed, indicating a complete overhaul of the leadership team [4][5]. Shareholder Transition - The changes in management are a direct result of Shanghai Securities becoming the major shareholder of Xinjiang Qianhai United Fund, as approved by the China Securities Regulatory Commission [5][6]. - Previously, the fund had multiple shareholders, including entities linked to Baoneng Group, which may have negatively impacted its performance [6]. Business Performance and Comparison - Xinjiang Qianhai United Fund, established in August 2015, has a registered capital of 200 million yuan and manages a total fund size of 8.993 billion yuan as of the second quarter of 2025 [7]. - Compared to its peers established in the same year, such as Hongde Fund and New沃 Fund, Xinjiang Qianhai's managed scale is relatively low, with only four products exceeding 100 million yuan in size [7]. - The fund's performance has been mixed, with some products outperforming their peers, but overall, it has a significant number of smaller funds [8]. Future Outlook - The entry of a strong shareholder and the management overhaul are expected to optimize governance and enhance the fund's competitive position in the market [6][8]. - If the new management can effectively execute strategies and adapt to market conditions, there is potential for the company to broaden its business scope and improve its overall performance [8].

联合〔2025〕8161 号 联合资信评估股份有限公司关于长江证券股份有限公司 变更主要股东完成股份过户的关注公告 受长江证券股份有限公司（以下简称"公司"）委托，联合资信评估股份有限公司（以下简称 "联合资信"）对公司及其发行的相关债项进行了信用评级。除评级委托关系外，联合资信、评级 人员与公司不存在任何影响评级行为独立、客观、公正的关联关系。 间 债券余额（亿元） 兑付日 注：含权债券所列到期兑付日按最近一次行权日计算 资料来源：公开资料，联合资信整理 公司于 2024 年 3 月 30 日披露了《关于公司股东签署股份转让协议、一致行动协议暨第一大股 东变更的提示性公告》，公司股东长江产业投资集团有限公司（以下简称"长江产业集团"）与湖 北能源集团股份有限公司（以下简称"湖北能源"）、三峡资本控股有限责任公司（以下简称"三 峡资本"）签署《股份转让协议》，长江产业集团拟通过协议转让方式分别受让湖北能源、三峡资 本持有的公司 529,609,894 股和 332,925,399 股股份，占长江证券股份总数的比例分别为 9.58%和 司、湖北宏泰集团有限公司、湖北省鄂旅投创业投资有限责任公司、湖北省中小企业金 ...