Group 1 - The core point of the announcement is the resignation of Gao Xiyang, the Deputy General Manager of Yimin Fund Management Co., Ltd., due to personal reasons, effective June 26, 2025 [1][4]. - Gao Xiyang has a diverse background in the finance industry, having held various positions including industry researcher, fund manager, and investment director at several well-known financial institutions before joining Yimin Fund in June 2022 [1][4]. - The Yimin Innovation Advantage Mixed Fund (code: 560003) was established on July 11, 2007, and as of June 26, 2025, it has achieved a year-to-date return of 2.53% and a cumulative return of 22.61%, with a net asset value of 1.2277 yuan [1][5]. Group 2 - The announcement is based on regulations including the "Measures for the Disclosure of Information on Publicly Raised Securities Investment Funds" and the "Supervision and Management Measures for Directors, Supervisors, Senior Management Personnel, and Practitioners of Securities Fund Operating Institutions" [3]. - The resignation does not involve any transfer to other positions within the company [4]. - The fund will continue to be co-managed by another fund manager, Zhang Ting, following Gao Xiyang's departure [5].

Group 1 - The core point of the article is the announcement by Yimin Fund regarding the appointment of Ma Qianlin as a new fund manager for the Yimin Innovation Advantage Mixed Fund [1][2] - Ma Qianlin has a background as an engineer at Renesas Integrated Circuit Design Co., Ltd., and as an investment manager at China Galaxy Investment Management Co., Ltd. and Kunlun Health Insurance Co., Ltd. [1] - The Yimin Innovation Advantage Mixed Fund was established on July 11, 2007, and has a year-to-date return of 3.01% and a cumulative return of 23.19% since inception, with a net asset value of 1.2334 yuan [1] Group 2 - The fund is managed by Yimin Fund Management Co., Ltd., and the announcement is made in accordance with the "Measures for the Administration of Information Disclosure of Publicly Raised Securities Investment Funds" [2] - The new fund manager Ma Qianlin will work alongside the existing fund manager Zhang Ting [2]

Core Viewpoint - The recent departure of four senior executives from Yimin Fund within a year highlights significant instability in the company's management team, coinciding with a drastic reduction in its asset management scale, which has shrunk by over 61% from the end of 2024 to the first quarter of 2025 [1][9][15]. Group 1: Executive Departures - Yimin Fund announced the resignation of Vice President Gao Xiyang due to personal reasons, marking the fourth senior executive departure in just six months [1][7]. - Gao Xiyang joined Yimin Fund in June 2022 and held the position of Vice President for only six months before his departure [1][4]. - The company has experienced continuous management upheaval since late last year, with the resignation of General Manager Wang Mingde and other key executives [6][7]. Group 2: Asset Management Scale - Yimin Fund's asset management scale plummeted from 2.12 billion yuan at the end of 2024 to 820 million yuan by the first quarter of 2025, a decline exceeding 61% [9]. - As of the first quarter of 2025, Yimin Fund ranked 164th out of 199 public fund companies in terms of scale, placing it at the lower end of the industry [9]. Group 3: Management Challenges - The company is facing severe challenges in business development, exacerbated by a labor dispute related to the enforcement of a salary cap in the financial industry, which has raised concerns about human resource management [11]. - Yimin Fund has struggled to maintain a stable management team, with its asset management scale remaining below 1 billion yuan despite nearly 20 years of operation [12][15]. - The performance of Yimin Fund's products has been inconsistent, with some funds underperforming against their benchmarks [13]. Group 4: Regulatory Environment - In June 2025, the China Securities Regulatory Commission issued a plan to promote high-quality development in public funds, requiring companies to establish a performance evaluation system focused on investment returns, which poses a challenge for Yimin Fund [11][15].