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cailianshe news, september 4 (reporter lin jian)the chief transformation strategy of the sell-side has a new template, this time it is shi yi, deputy director of zheshang securities research institute, leader of the large cycle group, and chief of metal new materials. cailianshe reporters learned that shi yi may start a business in africa after leaving the research institute.

currently, the company on the personal business card has been changed to "beauty routine cosmetics", which is a cosmetics company. the company's address is in a square in lagos, nigeria, a west african country.

shi yi’s new business card has been changed to “adam shi” and the company has been changed to “beauty routine cosmetics”.

"in addition to going into business to find reemployment, migrant workers in the financial sector can also go abroad!" the author of the public account "大财可富司机" joked in the comment section.

shi yi is well-known in the sell-side circle. on the one hand, he has more than ten years of investment and research experience in the metal and automotive industries. he was formerly an analyst at haitong securities research institute and has been practicing for more than 10 years. he joined zheshang securities on october 17, 2022, and served as deputy director of the research institute and chief analyst of the nonferrous and automotive industries. he has won many influential awards in the industry and is highly expected by the management. for example, qiu guanhua, chief strategy officer and director of the research institute of zheshang securities, once sent him a message, saying that he hoped he could start again from "cycle" to "growth" and witness the changes of the times at the forefront.

shi yi's registration information with the china securities association has not been updated and he is still practicing at zheshang securities

on the other hand, in may 2022, shi yi and zhang yichi, the former chief of haitong electric, both became the focus of public opinion due to their recommendation report on byd. their dispute over the coverage area attracted attention from the outside world, especially the conflict between the two parties once again exposed the seller's "crossing the line" and the resulting problems of warehouse and point allocation.

as of now, shi yi’s registration information on the official website of the china securities association has not been updated and he is still working at zheshang securities. however, according to the news shi yi posted on his wechat moments, he has obtained a nigerian green card and his company is in the process of being renovated.

shi yi said that he has obtained a nigerian green card and his company is in the process of renovation.

frankly speaking, "do one thing, do it to perfection, and copy and paste it to the whole world"

shi yi revealed a few months ago why he chose africa as the location. shi yi received a master's degree in science from new york university and a bachelor's degree from the central university of finance and economics. in april this year, he was an alumnus of the central university of finance and economics."in the context of financial involution, what is the future direction?"this topic was discussed in a special seminar at the school. he shared three views when exhorting students, and clearly mentioned the core ideas of "devoting oneself to african studies" and "going to the world":

1. through the stories of wang mouyunchi who faced the wall for ten years and finally became the top artist of dunhuang murals, and shi yi who encountered the financial crisis right after graduation and traveled all over the non-ferrous metal mines for six years, the importance of increasing knowledge reserves, focusing on a certain field and cultivating benchmark thinking is emphasized.

2. looking to the future, when thinking about his career choices and plans, shi yi combined his career development experience to give the important factors that led him to devote himself wholeheartedly to african studies.

3. we must learn to think in the long term. although we are facing many practical problems now, this does not prevent us from discovering what we like and want to do. emphasize that "only things you like can make you persist enough" and "only do one thing, do it to the extreme, and copy and paste it to the whole world."

public data shows that nigeria and china established diplomatic relations in 1971. in recent years, the relationship between the two countries has continued to warm up in the promotion of the "belt and road" cooperation, and a large number of outstanding achievements have been made in infrastructure construction and free trade zone construction. in october 2023, the two sides agreed to continue to deepen the cooperation in jointly building the "belt and road". nigeria is china's largest export market and trading partner in africa, and the largest contracting engineering market. among them, nigeria's second-tier cities are setting off a wave of entrepreneurship, especially lagos, which has a population of more than 15 million. data shows that nearly 90% of nigeria's start-ups are located in this coastal city.

from a policy perspective, the industry incentives implemented by the nigerian government are particularly significant. the government has clearly identified about 70 industries as key areas of priority development and has implemented a series of preferential policies for these industries. according to nigerian law, except for the oil and gas industry, the statutory corporate income tax rate is 30%. however, for companies in pioneer industries, the government provides a tax exemption period of up to 5 years (tax exemption only applies to products produced by the company that belong to the pioneer industry category). in some economically underdeveloped areas, this tax exemption period can even be extended to 7 years. for foreign-funded or joint ventures, if they want to apply for preferential policies for pioneer industries, their registered capital must exceed 10 million naira (the official currency unit of nigeria) and the investment amount must be more than 5 million naira.

sellers are transforming and diversifying, no longer confined to the financial circle

obviously, it needs to be made clear that although personal career choices are influenced by the industry as a whole, specific choices are made based on personal actual circumstances and do not have commonalities.

shi yi, 38, will be working at zheshang securities for two years. industry insiders are shocked by shi yi's decision to start a business in africa. many chief analysts and management personnel of research institutes who are aware of the news expressed their feelings to reporters. first, the industry cycle is indeed very stressful. even shi yi's level has jumped out of the industry, and the profit effect is very poor. second, in recent years, there are more ways for the sell-side to transform, including taking the civil service exam and doing knowledge payment.

many industry insiders believe that one of the main reasons for the transformation of the sell-side is still related to the decline in personal income, and the greater background is the pressure on brokerage research business. industry data shows that in the past year, fund management fees have generally declined. the trend of fee reduction has posed new challenges to fund companies' cost control and profit models, and salary restrictions in the financial industry will become a common phenomenon. in this context, the income of both buyers and sellers will be affected.

data shows that in the first half of 2024, brokerage commission income was 6.774 billion yuan, down about 30% year-on-year. the commission income of most brokerages has declined, and the commission income of the top brokerages has generally declined by more than 20%. only a few brokerages have achieved year-on-year growth.

in the civil servant recruitment announcement issued by the beijing development and reform commission in april this year, gao xin of dongxing securities was hired as a civil servant for price monitoring. public information shows that gao xin, a master of economics, joined dongxing securities in 2019. he previously served as a non-bank financial analyst at dongxing securities. on may 14, 2024, the theme of gao xin's last public research report was: supervision of listed securities companies is strengthened, and the industry ecology is expected to continue to optimize.

in february, a financial blogger revealed that liu xiang, deputy director of kaiyuan securities research institute and chief analyst of dianxin, played the knowledge planet. the ticket is 199 yuan, valid for one year, "2024/2/27 to 2025/2/27", and more than 240 people joined, about 43,800 yuan, and it took only 28 days. relevant sources said that liu xiang had left kaiyuan securities research institute in early 2023.

despite this, the majority of people still choose to move from the sell side to the buy side. according to incomplete statistics from reporters, at least seven sell-side researchers or executives have switched to the buy side since 2024.