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China Merchants Securities: Xiong Kai resigned as vice president for personal reasons but will continue to work for the company

2024-08-13

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China Merchants Securities Co., Ltd. (referred to as "China Merchants Securities", 600999.SH) Xiong Kai resigned from his positions as vice president.
On August 12, China Merchants Securities issued an "Announcement on the Resignation of the Company's Vice President", stating that the board of directors received a written resignation report submitted by the company's vice president Xiong Kai on August 12, 2024. Xiong Kai applied to resign from the position of vice president of the company for personal reasons. According to relevant regulations, Xiong Kai's resignation will take effect from the date the resignation report is delivered to the board of directors.
"Xiong Kai confirmed that he has no differences of opinion with the company's board of directors, expressed his gratitude to the company's board of directors for its guidance during his tenure, and will continue to work for the company," said China Merchants Securities.
The Paper noted that recently, rumors such as "someone from China Merchants Securities was taken away" have been circulating in the market. The Paper learned from relevant sources that the rumors were forcibly linked to Xiong Kai, which were all false news. Xiong Kai was working normally and had not been out of contact.
According to the information, Xiong Kai obtained a bachelor's degree in English from the Chinese People's Police University in July 1994, a master's degree in law from the Chinese People's University in July 2002, and a doctorate in legal theory from the Chinese Academy of Social Sciences in July 2011. He has served as vice president of China Merchants Securities since August 2023.
At present, the page of Vice President Xiong Kai has been removed from the “Company Executives” column on the official website of China Merchants Securities.
A previous page on China Merchants Securities’ official website showed that Xiong Kai was the company’s vice president, but this information has now been removed.
On April 26, China Merchants Securities released its first quarter report for 2024, with operating income of 4.299 billion yuan in the first quarter, a year-on-year decrease of 9.66%; net profit attributable to shareholders of the parent was 2.157 billion yuan, a year-on-year decrease of 4.54%; basic earnings per share was 0.23 yuan.
As of the close of August 12, China Merchants Securities closed flat at 14.66 yuan.
The Paper reporter Qi Yeyun
(This article is from The Paper. For more original information, please download the "The Paper" APP)
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