Group 1 - The recent leadership change at Huabao Fund marks a significant shift in the public fund industry, with Huang Kongwei stepping down as chairman due to age-related reasons, and Xia Xuesong, former chairman of Baoxin Software, taking over [1][4][3] - Huang Kongwei served as chairman of Huabao Fund for over three years, during which the company managed 153 public fund products with a total asset management scale of 355.7 billion yuan, positioning it in the upper-middle tier of the industry [2][3] - Under Huang's leadership, Huabao Fund achieved notable growth in its ETP business, with its equity ETFs surpassing 100 billion yuan in total assets by July 2025, entering the "100 billion equity ETF club" [2] Group 2 - The public fund industry has seen a high frequency of executive changes this year, with 109 fund companies experiencing management changes, including 31 chairperson transitions [6][8] - The trend of executive turnover is attributed to factors such as mandatory retirement, strategic adjustments by shareholders, and administrative reshuffles within the industry [8]

Core Viewpoint - The public fund industry is experiencing frequent changes in senior management, with another major fund company undergoing a chairman transition [1][7]. Group 1: Chairman Transition - Huang Kongwei has resigned as chairman of Huabao Fund due to "age-related reasons," with Xia Xuesong, former chairman of Baoxin Software, taking over [2][5]. - Huang Kongwei served as chairman for over three years, during which Huabao Fund managed 153 public fund products with a total asset management scale of 355.7 billion yuan, maintaining a strong position in the industry [3][4]. - Under Huang's leadership, Huabao Fund achieved significant growth in its ETP business, with its equity ETFs surpassing 100 billion yuan in total assets by July 2025 [3]. Group 2: New Leadership Direction - Xia Xuesong aims to enhance the operational efficiency of Huabao Fund by implementing performance-driven strategies and optimizing management processes [6]. - The company plans to balance innovation with compliance, focusing on expanding its existing product lines while introducing new offerings such as thematic ETFs and fixed-income products [6]. Group 3: Industry Trends - In 2023, there have been 109 changes in senior management across the public fund industry, with 31 chairmen changing positions [7][9]. - The high turnover is attributed to factors such as mandatory retirement, strategic adjustments by shareholders, and administrative changes [9].