Xinhua Fund Executive Shakeup: 19-Year Veteran Steps Down, Senior Assistant Promoted to Vice President

NightAirdropper · 2026-02-26T04:41:15+00:00

Xinhua Fund has recently experienced frequent management changes, with four vice presidents leaving consecutively, including veteran Xu Duanqian who has worked for over 19 years. Zhang Peng has been appointed as the new vice president, bringing diversified experience in finance and investment management. Since reaching a peak in management scale in 2022, the company has gradually contracted and is now facing the challenge of leadership transition. Whether it can achieve growth in the future is highly anticipated.

NightAirdropper

2026-02-26 04:41:15

Abstract generation in progress

In less than two years, four vice presidents have left Xinhua Fund.

On February 25, Xinhua Fund Management Co., Ltd. (hereinafter referred to as “Xinhua Fund”) announced the appointment of Zhang Peng as Vice General Manager and Chief Financial Officer, effective from February 24, 2026. At the same time, Vice General Manager Xu Duanqian resigned due to personal reasons and will not assume any other positions within the company.

Notably, Xu Duanqian is considered a “veteran” of Xinhua Fund. He joined the company in December 2006 and has served for over 19 years. Since June 2010, he has held the position of Vice General Manager for more than 15 years, witnessing multiple stages of the company’s development and changes.

Zhang Peng, who succeeded him, joined Xinhua Fund in April 2024. According to the China Asset Management Association’s public disclosures and announcements, Zhang has a diverse background in finance and investment management.

He has previously worked at China Sinochem Group’s Financial Analysis and Evaluation Department, Southwest Securities Fixed Income Financing Department, and China National Chemical Oil & Gas Co., Ltd. Supervisory Department. He later served as Chief Risk Officer at Beijing Fuhua JinKong Investment Management Co., Ltd., Head of the Direct Investment Department at Great Wall Life Insurance Co., Ltd., Assistant General Manager of the Finance Department, Vice General Manager, and Department Head. Before his promotion to Vice General Manager, Zhang was Assistant General Manager and Director of Planning and Finance at Xinhua Fund.

According to The Paper, in recent years, the core management team of Xinhua Fund has experienced frequent changes, involving the Chairman, General Manager, and four Vice General Managers.

On November 12, 2024, Vice General Manager Jiang Qian liquidated her positions and resigned from her managed products after just over four months. On December 28 of the same year, Jiang Qian left the company as Vice General Manager due to personal reasons, with less than 11 months in office.

On December 2, 2024, Yu Chunling resigned as Chairman of Xinhua Fund due to personal reasons, with no indication of transferring to another position within the company. The new Chairman is Yin Guohong.

On January 23, 2025, Yang Jinliang left his position as General Manager due to personnel adjustments, with no mention of another role within the company. On the same day, Cui Fengtian, then Vice General Manager and Secretary of the Board, also left due to personnel changes. Both served less than two years. Currently, their records are no longer available on Xinhua Fund’s official personnel information.

On December 18, 2025, Wang Zhiguang resigned as Vice General Manager due to personal reasons after only 13 months in office.

According to the official website, Xinhua Fund was established in 2004 and is the first public fund management company in Southwest China. The company is registered in Chongqing, with its management and back-office operations based in Beijing and Chongqing, and branches in Beijing, Shanghai, and Guangdong.

Reviewing its development trajectory, according to Wind data, the company’s management scale peaked at the end of Q2 2022, reaching a net asset value of 86.837 billion yuan. However, after this peak, it sharply declined, shrinking by over 20 billion yuan within a quarter. Since then, the company’s overall scale has remained below 60 billion yuan, showing a clear slowdown in growth.

As of December 31, 2025, the company’s management scale was 57.107 billion yuan, ranking 85th in the industry. In terms of product structure, the company exhibits a significant “debt-strong, equity-weak” characteristic. Non-cash assets totaled 31.849 billion yuan, with bond funds accounting for 25.117 billion yuan, nearly 80% of the total; equity products are relatively small, with hybrid and stock funds combined totaling less than 7 billion yuan.

Industry insiders point out that the ongoing turbulence among core executives, the quiet departure of veteran staff after 19 years, indicates that Xinhua Fund is at a critical juncture of new and old leadership transition. Whether the new leadership with a financial background can achieve breakthroughs in cost control and refined management to stabilize the situation and rekindle growth will be a key focus for the market moving forward.

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