Core Viewpoint - Wang Ping has left his position as the fund manager of Xingquan Global Vision Equity Fund, which has shown significant performance since its inception [1] Group 1: Fund Performance - Xingquan Global Vision Equity Fund was established on September 20, 2006, and has achieved a year-to-date return of 43.56% as of December 23, 2025 [1] - The fund's cumulative return since inception is 1079.01%, with a net asset value of 5.8747 yuan [1] Group 2: Management Changes - The announcement of Wang Ping's departure was made by Xingzheng Global Fund Management Co., Ltd., which is the fund's management company [2] - The fund will continue to be managed by Yu Mingqiang alongside other management personnel [2]

Core Viewpoint - The announcement of new leadership at Xingzheng Global Fund, with Zhuang Yuanfang appointed as Chairman and Chen Jinqian as General Manager, marks a significant transition in the company's management structure, aiming to ensure stability and continuity in its operations [1][5][4]. Management Changes - Zhuang Yuanfang has been promoted to Chairman and legal representative, having a long tenure of over 33 years in the industry, including previous roles at Xingzheng Global Fund [3][4]. - Chen Jinqian, with over 26 years of investment experience, has been appointed as General Manager, previously serving as Deputy General Manager [5][3]. - Both executives have been with the company for over 10 years, fostering a culture of professionalism and responsibility [5]. Fund Performance and Management Scale - Xingzheng Global Fund manages 143 funds with a total management scale of 741.992 billion yuan, which has increased by 44.73 billion yuan since the end of 2024 [1][6]. - The fund's flagship product, Xingquan Global Vision Stock Fund, has shown strong performance, with a 3-month increase of 21.68% and a 6-month increase of 37.89% as of November 7, 2025 [2][7]. Shift in Fund Composition - There has been a notable increase in the scale of money market funds, which reached 414.016 billion yuan by the second quarter of 2025, compared to 186.923 billion yuan in the third quarter of 2020 [8][6]. - Conversely, the scale of equity funds has decreased significantly, with mixed funds shrinking from 235.469 billion yuan in 2021 to 122.84 billion yuan by mid-2025 [7][8]. Financial Performance - The company's revenue and net profit have declined from 3.916 billion yuan and 1.376 billion yuan in the first half of 2021 to 1.785 billion yuan and 719 million yuan in the first half of 2025, respectively [8].

Group 1 - The core point of the article highlights the recent performance of the Xingquan Global Vision Stock Fund, which has seen a decline of 0.23% on April 29, with a cumulative drop of 1.38% over four consecutive trading days [1] - The fund was established in September 2006, with a total size of 1.199 billion yuan and a cumulative return of 706.66% since inception [1] - As of the end of 2024, institutional investors hold 0.72 million shares, accounting for 12.27% of the total shares, while individual investors hold 5.13 million shares, making up 87.73% of the total [1] Group 2 - The current fund manager, Ms. Wang Pin, has a master's degree and extensive experience in various investment roles, having joined Xingquan Fund Management in May 2016 [2] - Mr. Yu Mingqiang, another fund manager, has been with Xingquan Global Vision Stock Fund since February 12, 2025, and has a background in research [2] Group 3 - As of March 31, 2025, the top ten holdings of the Xingquan Global Vision Stock Fund account for a total of 33.73%, with notable companies including CATL (6.72%), Luxshare Precision (4.03%), and BYD (2.83%) [3]