Change of buyer. Zhang Xia, chief strategy analyst at CICC, has been transferred internally to CICC Asset Management.

Market rumors suggest that Zhang Xia, the Chief Strategy Analyst at China Merchants Securities, has resigned. It has been exclusively revealed that Zhang Xia is not switching industries but is being internally transferred to China Merchants Asset Management to work in an investment role. Currently, Zhang Xia's practicing registration information cannot be found on the official website of the China Securities Regulatory Commission. Public information indicates that Zhang Xia joined China Merchants Securities in 2011 and has over 15 years of experience in sell-side research.