Group 1 - Multiple fund managers at Pengyang Fund have recently changed, including Li Qin, Wu Xiyan, Dai Jie, and Yang Aibin [2] - Li Qin has resigned from four funds, while Wu Xiyan has left three funds, and Dai Jie has stepped down from two funds [2] - Li Qin has been appointed as the fund manager for Pengyang Jingxin Mixed Fund and Pengyang Jingheng Six-Month Holding Mixed Fund [2] Group 2 - Wu Xiyan also resigned from the Pengyang Consumer Industry Mixed Initiation Fund in January 2025, which was terminated in August 2025, with a return of -6.68% for the A-class shares [3] - The Pengyang Growth Pioneer Mixed Fund, which Dai Jie left, was established in November 2021 and has seen a decline of 31.51% in net value since inception as of December 31, 2025 [3] - The fund's portfolio shows a 90.87% allocation to stocks and 5.5% to bonds, with major holdings including Tencent, Kweichow Moutai, and Meituan [3]