Core Viewpoint - Liu Xinzheng has resigned from multiple funds managed by Zheshang Fund Management Co., Ltd, indicating a significant change in the management structure of these investment products [1][2][3][4] Fund Performance Summary - **Zheshang Fengli Enhanced Bond Fund**: Established on August 28, 2018, with a year-to-date return of 7.01% and a cumulative return of 75.92%, net asset value at 1.7592 yuan [1] - **Zheshang Hu-Gang-Shen Mixed Fund A/C**: Established on June 27, 2019, with year-to-date returns of 24.92% and 24.43%, cumulative returns of 34.56% and 30.18%, net asset value at 1.3682 yuan and 1.3269 yuan [1] - **Zheshang Zhiduo Jin Steady One-Year Holding Period A/C**: Established on June 24, 2021, with year-to-date returns of 5.40% and 5.09%, cumulative returns of 10.93% and 9.07%, net asset value at 1.1086 yuan and 1.0901 yuan [1] - **Zheshang Zhiduo Ying Bond A/C**: Established on December 7, 2021, with year-to-date returns of 2.42% and 2.12%, cumulative returns of 8.08% and 6.44%, net asset value at 1.0808 yuan and 1.0644 yuan [2] - **Zheshang Zhi Xuan Value Mixed A/C**: Established on April 16, 2021, with year-to-date returns of 12.57% and 12.18%, cumulative returns of 6.33% and 4.02%, net asset value at 1.0646 yuan and 1.0416 yuan [2] - **Zheshang Zhiduo Bao Steady One-Year Holding Period A/C**: Established on July 23, 2020, with year-to-date returns of 2.76% and 2.39%, cumulative returns of 9.84% and 7.04%, net asset value at 1.0976 yuan and 1.0699 yuan [2] - **Zheshang Zhi Xuan Ling Hang Three-Year Holding Period A/C**: Established on January 13, 2021, with year-to-date returns of 13.59% and 13.43%, cumulative returns of -1.77% and -2.68%, net asset value at 0.9823 yuan and 0.9732 yuan [2] Management Changes - Liu Xinzheng has been dismissed as the fund manager for several funds, including Zheshang Hu-Gang-Shen Mixed Fund, Zheshang Zhiduo Jin Steady One-Year Holding Period Fund, Zheshang Zhiduo Ying Bond Fund, Zheshang Zhi Xuan Value Mixed Fund, Zheshang Zhiduo Bao Steady One-Year Holding Period Fund, and Zheshang Zhi Xuan Ling Hang Three-Year Holding Period Fund [3][4] - Other fund managers will continue to manage these funds alongside the remaining team members [3][4]

Core Insights - Zhejiang Merchants Fund announced the appointment of Liu Yaqing as a new fund manager for both Zhejiang Hong Kong and Shenzhen Mixed Fund and Zhejiang Smart Value Mixed Fund [1][2] Group 1: Fund Manager Appointment - Liu Yaqing joined Zhejiang Merchants Fund in April 2022 and is currently part of the Intelligent Equity Investment Department [1] - Liu Yaqing has previous experience as a macro strategy analyst at Shanghai Chongyang Investment Management and in comprehensive asset management at CITIC Bank [1] Group 2: Fund Performance - Zhejiang Hong Kong and Shenzhen Mixed Fund (established on June 27, 2019) has a year-to-date return of 19.64% and 19.24%, with a cumulative return since inception of 28.88% and 24.75%, and a total net value of 1.3172 CNY and 1.2778 CNY [1] - Zhejiang Smart Value Mixed Fund (established on April 16, 2021) has a year-to-date return of 11.88% and 11.52%, with a cumulative return since inception of 5.68% and 3.41%, and a total net value of 1.0582 CNY and 1.0356 CNY [1]