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interface news reporter | chen jing

interface news learned from industry insiders that recently, cicc (601995.sh) has made personnel adjustments in some business lines, involving the research department, strategic development department, institutional management department, risk management department, cicc academy, etc.specifically:

zhou guang, executive head of cicc's research department, has resigned and wu huimin has been appointed as executive head of the research department, while still serving as executive dean of cicc research institute.

cicc's strategic development department and institutional management department have been merged, and ma kui, the former head of the institutional management department, has been appointed as the head. he just resigned from the position of the company's financial director in february this year.

ye hong, executive head of cicc's risk management department, has retired and hua haiyue, managing director of the risk department, has taken over as executive head of the risk management department.

cicc academy was abolished, executive director cha xiangyang resigned, and cicc administrative department head li yuan resigned.

public information shows that wu huimin joined cicc in 2007. in the early days, he was responsible for research on the machinery and construction engineering industries, and has participated in key ipo projects in many industries.

ma kui was born in 1971. he joined cicc in april 1998 and held various positions, including head of finance department, head of market risk department, head of planning and analysis department, head of operation support department, assistant chief financial officer, chairman of cicc pucheng and director of cicc jiacheng. he has been appointed as chief financial officer and head of institutional management department of cicc since may 2015 and september 2011 respectively.

just in july, cicc and china galaxy securities (601881.sh) were rumored to merge again. at that time, cicc's investor relations department responded that it had not received any relevant news.

in the past two years, under the recommendation of shareholder central huijin, there has been a frequent two-way flow of senior executives between cicc and china galaxy. in october last year, both companies announced the change of leadership. among them, chen liang, the former chairman of china galaxy, was parachuted into the position of chairman of cicc, and wang sheng, the former president of china galaxy, was promoted to chairman. according to his resume, wang sheng only joined china galaxy in july 2022 and previously held several important positions in cicc.

later, news of the merger of the two companies came out. in mid-november 2023, china galaxy securities and cicc successively issued clarification announcements, denying market rumors that the two companies were about to merge and reorganize.

from the perspective of policy encouragement, the top leaders emphasized promoting the high-quality development of my country's financial sector, including cultivating first-class investment banks and investment institutions. the china securities regulatory commission also expressed its support for leading securities firms to become better and stronger through business innovation, mergers and acquisitions, and restructuring.

in terms of performance, china galaxy securities and cicc achieved total revenue of 33.644 billion yuan and 22.99 billion yuan respectively last year, and achieved net profits attributable to their parent companies of 7.879 billion yuan and 6.156 billion yuan respectively.

in terms of specific business performance, last year china galaxy's net income from brokerage, investment banking, asset management, proprietary trading, and credit business were 5.502 billion yuan, 548 million yuan, 457 million yuan, 7.658 billion yuan, and 4.163 billion yuan respectively. cicc's net income from brokerage, investment banking, asset management, proprietary trading, and credit business were 4.53 billion yuan, 3.702 billion yuan, 1.213 billion yuan, 10.556 billion yuan, and -1.334 billion yuan respectively.