China Fund News Jiang You
"Mr. Lin Chuanhui was elected as the chairman of the 11th board of directors of the company, and Mr. Qin Li was agreed to be appointed as the general manager of the company", the head brokerage with total assets of about 760 billion yuan, the main leaders of GF Securities were officially "settled"!
Lin Chuanhui served as the chairman of the board of directors and no longer served as the general manager, and Qin Li, the "old Guangfa", was promoted to general manager
On the afternoon of May 10, the general meeting of shareholders of GF Securities approved the list of candidates for the 11th board of directors and supervisors of the board of supervisors, and then the first meeting of the 11th board of directors was held, and the above election and appointment results were obtained.
Lin Chuanhui joined GF Securities in 1995 and served as the head of the relevant business of the company's investment banking department, Lin Chuanhui is also a veteran of the fund industry, single-handedly founded GF Fund and led it to become one of the top funds, returned from GF Fund to its parent company GF Securities as general manager at the end of 2020, and also served as chairman of GF Securities in July 2021.
Qin Li was also promoted to general manager from within. Since 1997, Qin Li has successively served as the head of GF Securities' investment banking, investment and financial management, capital operation, planning and development, investment and other departments, and has served as the assistant to the general manager, deputy general manager and executive deputy general manager of the company.
In addition, the board of directors of GF Securities also agreed to appoint a number of senior executives, Sun Xiaoyan as the company's executive deputy general manager and chief financial officer, Xiao Xuesheng, Ouyang Xi, Zhang Wei, Yi Yangfang, Xin Zhiyun, Li Qian, Xu Youjun, Hu Jinquan as the company's deputy general manager, Xin Zhiyun also served as the chief information officer, Wu Shunhu served as the company's compliance director, Cui Zhouhang served as the company's chief risk officer, and Yin Zhongxing served as the company's board secretary, joint company secretary, and securities affairs representative. The senior management team has been re-appointed or promoted internally, and there have been slight changes, such as Sun Xiaoyan's promotion from deputy general manager to executive deputy general manager.
As a leading brokerage with relatively diversified equity, GF Securities' management adjustment has attracted market attention in recent years. According to the analysis of industry insiders close to GF Securities, the adjustment of the management team of GF Securities first reflects the stability and continuity of the company's development strategy. The second is to highlight the company's strategic focus, the background of the management team, and focus more on forging wealth management capabilities and serving the real economy, which is conducive to GF Securities to build a "one GF" comprehensive financial service with the whole business chain and the whole life cycle.
The above-mentioned industry insiders said that for a brokerage, the stability of the leadership team is conducive to promoting the sustainable and stable implementation of the company's strategy. GF Securities' forward-looking strategic guidance, stable equity structure, and compliant and stable business philosophy have always been the core competitiveness of the company's development.
Secondly, from the perspective of the background of GF Securities' senior management team, they generally have rich experience in pan-wealth management, investment, investment banking, etc., for example, Lin Chuanhui is a veteran of the public fund industry. The combination of the senior management team is conducive to further co-ordinating its superior resources such as public funds, private equity funds, and asset management on the basis of the parent company's wealth management advantages, forging the core competitive advantage of "wealth management + asset management", and deepening the linkage model of "research + investment + investment banking".
GF Securities' pan-wealth management business maintained its leading position in the industry. In the field of wealth management, as of the end of 2023, GF Securities ranked 3rd in the industry in terms of the holding scale of non-monetary public funds distributed by GF Securities, and ranked 1st in the industry for securities investment consulting for 10 consecutive years (parent company). In the field of asset management, as of the end of 2023, the total management scale of its E Fund and GF Fund's public funds reached 1.7 trillion yuan and 1.2 trillion yuan respectively, ranking first and third in the industry.
Third, GF Securities' talent team is diverse and inclusive. Many senior executives are selected and reused from the front line of the business, grassroots positions, subsidiaries, etc., and form a talent echelon. Executives are basically internal growth, which is conducive to the inheritance of the company's culture and core values.
Research-driven operation, insist on promoting the core business to be better and stronger
In view of the fierce competition in the securities industry, GF Securities put forward the policy of transformation and development earlier, focusing on strengthening the core business, optimizing the business structure, and enhancing the ability to change, and promoted a series of reforms.
The first is to implement a research-driven business model. From the perspective of awards, the research ability has maintained a leading position in the industry for a long time, and has won industry authoritative awards such as "New Fortune Best Local Research Team" for many years; In 2023, GF Securities ranked second in terms of the fund's commission income to brokers.
The second is to continue to optimize the business structure. Strengthen the advantages of wealth management, asset management, research and other businesses, vigorously develop the business of capital intermediary institutions, and promote more balanced development.
The third is to implement customer-centric organizational transformation. The company reconstructs the business chain and organizational system around customer needs, and serves customers with "one GF". For example, in terms of investment banking, the investment banking committee empowers and leads the management to meet the diverse needs of customers with "industry specialization, regional localization, product integration, and collaborative efficiency"; In terms of retail, we promoted the reform of the wealth management organization system, set up a wealth management and brokerage headquarters, focused on strengthening the capacity building of buy-side investment advisors, and explored the pilot reform of platform-based business departments.
In the 2023 annual report, Lin Chuanhui said that in 2024, he will continue to build a modern financial institution with "good assets, good products, good customers and good platform" in accordance with the work arrangement of "sticking to the main responsibility and main business, guided by strategic planning, and promoting the company's high-quality development to a new level".
The first is to adhere to the investor-oriented, return investors with high-level comprehensive financial services, and repay investors with good company development quality. The second is to adhere to the professional as the basis, coordinate multiple business lines to promote the formation and development of new quality productivity.
The third is to insist on promoting the core business to be better and stronger. Continue to promote the transformation of investment advisors and strengthen wealth brokerage. Strengthen project screening, valuation and pricing, sponsorship and underwriting capabilities, and promote investment banking business. Do a large customer-oriented investment and do a good job in investment business. Seize the opportunity of the reform of the investment, financing and trading side to expand the institutional business. Fourth, adhere to the bottom-line thinking and strictly implement compliance management.
According to the data, as of the end of the first quarter of 2024, GF Securities' total assets were 759.774 billion yuan and its net assets were 139.962 billion yuan. In 2023, the operating income will be 23.3 billion yuan and the net profit will be 6.978 billion yuan, and in the first quarter of 2024, the operating income will be 4.949 billion yuan and the net profit will be 1.538 billion yuan.
On May 10, GF Securities A shares rose 0.3% to close at 13.21 yuan, and the company's total market value was 100.67 billion yuan.
Editor: Captain
Review: Xu Wen