Core Viewpoint - 招银理财 has appointed Dong Fang as the new president, aiming to enhance its investment research capabilities and transition into a comprehensive asset management institution [1][3]. Group 1: Leadership Changes - Dong Fang, with 24 years of experience at 招商银行, previously served as the deputy general manager of 招商基金 and is seen as taking a promotion with this new role [3][4]. - The appointment follows the resignation of the former president, Zhong Wenyue, who returned to 招商基金 [5]. Group 2: Company Strategy - 招银理财's overall strategy focuses on "stabilizing scale, adjusting structure, and improving capability" [7]. - As of the end of the reporting period, non-cash management new product scale reached 1.43 trillion yuan, accounting for 57.89% of the total, an increase of 5.73 percentage points from the previous year [7]. - The company is committed to solidifying its fixed-income investment advantages while also expanding into equity investments, enhancing its multi-asset and multi-strategy capabilities [7]. Group 3: Financial Performance - 招银理财's total assets were 240.71 billion yuan, with net assets of 231.02 billion yuan, and a net profit of 27.39 billion yuan during the reporting period [8]. - The balance of managed financial products was 2.47 trillion yuan at the end of 2024, a decrease of 3.14% from the previous year, but an increase from the third quarter of the same year [8][9].