On November 26, Hualin Securities issued an announcement on the change of executives.
The board of directors of Hualin Securities formally appointed Zhao Weixing as the chief executive officer (CEO) and chairman of the executive committee, while Wei Hongbo applied for resignation as CEO and chairman of the executive committee for personal reasons.
It is understood that Zhao Weixing is one of the few financial industry veterans in the industry with traditional banking and Internet finance experience, he has been deeply engaged in traditional banks for more than 10 years, and has been engaged in Internet financial institutions such as Ant Financial, MYbank, Xinnet Bank and Xiaomi Finance for more than ten years.
The board of directors of Hualin Securities said that Zhao Weixing has many years of senior management experience in mainstream banks and Internet financial enterprises, can apply the experience of mainstream banks to the practice of Internet technology service users, integrates the steady prudence of mainstream finance and the active innovation of financial technology, and is the first batch of "cross-border" senior management talents in China to practice digital finance and achieve successful results.
For the vision after serving in Hualin Securities, Zhao Weixing exclusively mentioned two points to the Chinese reporter of the securities company: on the one hand, to strengthen online digital operations; on the other hand, to make efforts to revitalize the countryside.
Wei Hongbo "graduated", Zhao Weixing "took over the baton"
The president of Hualin Securities has changed again - former president Wei Hongbo announced his resignation today, and Zhao Weixing, former vice president of Xiaomi Finance (now Tianxing Digital Branch), took over the baton.
Wei Hongbo was previously vice president of Changjiang Securities and became president of Hualin Securities in June this year. At the internal handover meeting held by Hualin Securities, Wei Hongbo sincerely expressed his gratitude to Lin Li, chairman of Hualin Securities, and the board of directors. He said: "Reluctant classmates, they will 'graduate' from Hualin today, but they are still connected to Hualin's blood and are still Hualin's close comrades-in-arms." He also expressed his great recognition of Hualin Securities' strategic thinking on science and technology finance, believing that the company has found people with rich experience and outstanding achievements in the Internet and financial industries to lead the way, and will do better in the future.
What he calls "a person with rich experience and outstanding achievements in the Internet and financial industries" is Zhao Weixing.
Zhao Weixing
It is understood that Zhao Weixing graduated from Shanghai University of Finance and Economics and has more than 20 years of practical experience in the operation and management of large banks, Internet banks and head financial technology companies. He has successively worked in the head office of shanghai pudong development bank, minsheng bank, bank of Hangzhou and other mainstream domestic banks, in charge of science and technology operation business, small and micro enterprise financial business, individual consumer retail finance business, and then turned to the field of Internet finance, participated in the preparation of the first batch of private banks in the country - Zhejiang Wangshang Bank, and served as the founding president of Xinnet Bank after leaving the MYbank. In April 2020, Zhao Weixing resigned from Xinnet Bank and became the vice president of Xiaomi Finance (Tianxing Digital), and built the three core competitiveness of Tianxing Digital Supply Chain Finance, Digital Consumer Finance and Financial Technology.
Perhaps it is Zhao Weixing's past "finance + technology" resume, which has a high degree of compatibility with the "science and technology finance" map depicted by Lin Li for Hualin Securities, and Zhao Weixing has taken the olive branch extended by Hualin.
As early as April this year, at the performance briefing meeting of Hualin Securities, Lin Li, chairman of Hualin Securities, publicly elaborated on the future development strategy, saying that he had determined the vision and goal of building a "leading technology financial company in China" by introducing internationally renowned consulting institutions to carry out strategic consulting. In his planning, Hualin Securities will uphold the customer-centric, technology-driven, transaction-based, agile-based business philosophy, increase investment in science and technology and the introduction of core talents, comprehensively promote the digital transformation of the front, middle and back office, and provide integrated financial services for individual, corporate and institutional customers throughout the value chain.
In short, in the new five-year plan of Hualin Securities, the positioning of "science and technology finance" has been placed in an unprecedented position. In addition, Lin Li emphasized a high degree of vigilance against risks in the company's exhibition industry, hoping to realize the transformation of the company's business from "heavy assets" to "light assets" through the empowerment of science and technology, and break out a "shortcut" for the development of private securities companies.
According to industry analysts, the grand blueprint set by Lin Li needs a professional manager with both professional strength and management pattern to lead the team to achieve. He not only needs to be proficient in finance and technology at the same time, but also needs to have a successful experience in fully managing a large-scale enterprise, and Zhao Weixing may be such a suitable candidate.
Zhao Weixing mentioned a detail at the handover meeting: in the process of initial contact with chairman Lin Li, when the two sides discussed the mobile phone product, Lin Li took out his mobile phone and listened to his ideas on customer development, operation and maintenance very carefully, "Pulling a former financial person back to the category of financial services, let me experience the concept of a company with customer centricity." This made me determined to join Hualin Securities. ”
Zhao Weixing pointed out that the sinking of wealth management business to the rural market should become an important direction of exploration. He believes that the state has raised rural revitalization and common prosperity to an unprecedented strategic height, so it is necessary to perceive the rural market in advance and carry out strategic layout in a timely manner. China's rural market is still relatively backward in wealth management and digital application, and the new generation of farmers have adapted to the Internet scene, but they lack effective tools and paths, and lack of enterprises that are deeply rooted in this market to provide them with tailor-made services. "With the advancement of science and technology and the advent of the digital era, the cost of science and technology will also further decline, as long as the method is correct, return to the target customer group, understand what they think, in order to dominate our product development, operation, and dominate the company's asset-liability structure, we can form a sustainable business model," Zhao said.
At the same time, Zhao Weixing also mentioned that offline outlets, broker teams, investment banks, bonds, bills and other traditional advantageous businesses are the foundation of the company, "We see the changes in financial technology at the same time, but also to coordinate the relationship between short-term effects and long-term effects, so as to be based on the present, look at the long term." ”
At the handover meeting on the same day, Lin Li, chairman of Hualin Securities, commented that Wei Hongbo had opened up a good situation for the company's Internet transformation. Especially in the field of wealth management, by paying close attention to refined operation, we will improve the success rate of online channel account opening; at the same time, strengthen the management of offline sales departments, optimize business outlets, reshape the operating atmosphere and value orientation of branches, and lay the foundation for the long-term development of the company.
After "graduation", Wei Hongbo said that he would return to Beijing to start a career in fund investment advisory. Lin Li said that he is very much looking forward to continuing in-depth cooperation with Wei Hongbo in the fields of brokerage business and fund sales in the future to jointly provide customers with better wealth management services and help the high-quality development of the capital market.
How does Hualin Securities in transition overtake in a corner?
It is worth noting that for Hualin Securities, although the president and executives have "come and gone" in recent years, the company's past performance, especially the return on net assets, has performed better.
As a small and medium-sized securities company, since the launch of Hualin Securities in 2015, the total assets of Hualin Securities have risen from 18 billion to 24.8 billion, the net assets have risen from 2.8 billion yuan to 6 billion yuan, and the net profit attributable to the parent company is close to 3.5 billion. In recent years, the return on total assets and the return on net assets have continued to rise, with ROE of 9.38% and 14.31% respectively from 2019 to 2020, ranking the forefront of the brokerage industry, with a net profit growth rate of more than 50%.
According to the third quarter report of this year, affected by the dual factors of investment income loss and increased investment in science and technology, the revenue and profit of Hualin Securities fell sharply for the first time since its listing, achieving operating income of 1.064 billion yuan, down 7.67% year-on-year, and net profit of 481 million yuan, down 27.2% year-on-year.
However, its main business has maintained a high level of growth as always, of which the net income from the main business fee and commission was 687 million yuan, an increase of 37.53% over the same period of the previous year, and the net income from investment banking fees was 206 million yuan, an increase of 77.04% year-on-year.
In the face of increasing uncertainty in the market, how will Zhao Weixing help Lin set up a good hualin securities chess game of science and technology finance? Zhao Weixing mentioned two directions to the Chinese reporter of the brokerage: one is to accelerate online digital operations, and the other is to make efforts to revitalize the countryside.
It is understood that in terms of digitalization and technological transformation, Hualin Securities has made great efforts this year.
In April this year, Hualin Securities fully opened the prelude to strategic transformation and upgrading:
On the one hand, the company's organizational structure has been upgraded, the "tribal system" reform has been fully implemented, and the "6+2" science and technology financial line has been launched, including eight major tribes of wealth, bonds, bills, asset management, rural revitalization, FICC, basic platform, and scientific and technological operation.
At the same time, continue to increase investment in information technology, and recruit science and technology financial talents to the market, the company's investment in science and technology in the first three quarters increased by more than 100% over the same period last year. Up to now, the scientific and technological personnel of Hualin Securities Headquarters have exceeded 50%, among which there are many core middle and senior talents from Tencent, Byte, Ant Financial, Ping An and other Internet and financial "big factories".
Among them, for rural revitalization, in the planning of the scientific and technological financial territory has also been given high hopes, the business will be based on the national strategy of rural revitalization, facing the "three rural" development and construction of information penetration, financial links, ecological coordination needs, is committed to becoming a comprehensive scientific and technological financial service platform to comprehensively promote the realization of agricultural strength, rural beauty, farmers rich.
When Zhao Weixing previously worked in the MYbank, he led the rural finance team of the MYbank to rely on the rural Taobao strategy of Alibaba's thousand counties and 10,000 villages at that time, united with professional rural financial service institutions such as Zhonghe Rural Credit, and joined hands with the county government to pull through government data to provide a variety of financial products and services for rural breeders and small and micro operators, so in terms of helping the revitalization of Hualin Securities, Zhao Weixing also has corresponding experience in the field of rural finance.
Lin Li said that Hualin Securities has clear strategic objectives, a solid business model and sustained profitability. In the future, the company will continue to deepen the digital transformation of the front, middle and back office, build an intelligent business empowerment platform through the construction of super traffic entrance and featured scene services, achieve full coverage of ecological scenarios and full reach of public and private domain channels, and provide comprehensive financial services for individual, enterprise and institutional customers throughout the value chain.
Editor-in-charge: Li Xuefeng
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