Core Viewpoint - The recent leadership changes at Beixin Ruifeng Fund, including the appointment of Xuan Xuezh柱 as the new general manager and the departure of Liu Xiaoling, highlight significant personnel adjustments within the company, which have raised concerns regarding its operational stability and management structure [1][2][3][4]. Group 1: Leadership Changes - Xuan Xuezh柱 has been appointed as the new general manager of Beixin Ruifeng Fund, succeeding Liu Xiaoling, who served for less than two years [1][3]. - Liu Xiaoling was no longer listed as a member of the board of directors as of October 2024, indicating her departure from the company prior to the official announcement [2][3]. - The investment decision-making committee has undergone a complete overhaul, with new members replacing the previous team that included Liu Xiaoling [3][5]. Group 2: Employee Changes - The number of employees at Beixin Ruifeng Fund has significantly decreased from 88 to 52 between July 2024 and the present, representing a reduction of over 40% in just over a year [2][5]. - The company has faced scrutiny regarding employee compensation and performance evaluation issues throughout 2024 [5]. Group 3: Fund Management Scale - As of the end of 2023, Beixin Ruifeng Fund's public fund management scale was approximately 3.2 billion yuan, which decreased to about 2.7 billion yuan by June 2025 [5]. - The majority of the fund's management scale is attributed to the Beixin Ruifeng Stable Income Fund, which alone accounts for over 2.2 billion yuan, while other products have significantly smaller scales [5].