Core Viewpoint - The ongoing internal disputes at Chunhou Fund Management Co., Ltd. are significantly impacting its business operations and fund performance, with a notable decline in total fund size and potential fund terminations due to low asset values and investor numbers [1][2][3]. Group 1: Company Background - Chunhou Fund was established in 2018, located in Shanghai, with a registered capital of 100 million yuan. Its business scope includes public offering securities investment fund management, fund sales, and other activities permitted by the China Securities Regulatory Commission [2]. - The company has been facing internal conflicts, particularly between its major shareholders, which has drawn market attention [2]. Group 2: Management Changes - Qi Jieping, a key figure at Chunhou Fund, has been unable to fulfill her duties as a fund manager since May 2025 due to personal reasons, leading to the reassignment of her responsibilities to other managers within the firm [1]. - Qi Jieping's contract was set to expire in January 2025, and her departure has been complicated by the company's ongoing equity disputes [1]. Group 3: Financial Performance - As of the end of 2024, Chunhou Fund's total fund size was 23.142 billion yuan, a significant decrease from 32.422 billion yuan at the end of 2023 [3]. - By September 30, 2025, the total fund size further declined to 19.912 billion yuan, indicating a continued downward trend [4]. - Several funds managed by Chunhou Fund have issued warnings regarding potential liquidation due to their net asset values falling below 50 million yuan for 30 consecutive working days [3].

Group 1 - The core announcement is about the change in fund management at Chunhou Fund, with Chen Yin being appointed as the new fund manager for Chunhou Era Preferred Mixed Fund, while Gu Wei has stepped down [1][2] - Chen Yin has a diverse background in fund management, having previously worked as a channel manager at Haifutong Fund Management Co., a researcher at Xizhou Investment Management Co., and a fund manager at Shanghai Congrong Investment Management Co. [1] - Chunhou Era Preferred Mixed Fund was established on January 27, 2022, and as of July 11, 2025, it has reported a year-to-date return of -0.28% and -0.53% for its two share classes, with cumulative returns since inception at -24.14% and -25.48% [1] Group 2 - The fund's cumulative net asset values are reported as 0.7586 yuan and 0.7452 yuan for its respective share classes [1] - The announcement is made in accordance with the "Measures for the Disclosure of Information on Publicly Raised Securities Investment Funds" and other relevant regulations [2] - The change in fund management includes both the appointment of a new manager and the departure of the previous manager [2]