Image source: Visual China
Blue Whale News, July 23 (Reporter Hu Jie) Today, a party group document of China Minmetals Corporation (hereinafter referred to as "China Minmetals Corporation") circulated in the industry, and the personnel appointment and dismissal content of the document shows that Chang Wei was removed from the post of member of the party committee of Minmetals Capital. According to public information, Chang Wei also served as Secretary of the Party Committee and Chairman of Minmetals Securities.
Image source: Screenshot of the online transmission
The Blue Whale News reporter inquired about the official websites of Minmetals Capital and Minmetals Securities, and at present, the "Company Profile - Management Team" column on the official website of Minmetals Capital cannot be opened normally; According to the official website of Minmetals Securities, Chang Wei is still a member of the party committee and board of directors. On July 1, Chang Wei gave a special party course on party discipline learning and education to all party members and cadres of Minmetals Securities with the theme of "Ensuring the Company's Characteristic Transformation and High-quality Development with Strict Discipline".
Image source: Minmetals Securities official website
According to public information, at the beginning of 2022, Minmetals Securities issued a notice of appointment and dismissal, and Guo Zelin, chairman and secretary of the Party Committee of Minmetals Securities, will no longer concurrently serve as a member of the Party Committee and Secretary of the Party Committee of Minmetals Securities due to work arrangements. Subsequently, Chang Wei "took over". Chang Wei's more low-key style was previously vice chairman of Minmetals Capital (Hong Kong), both owned by China Minmetals Group.
It is reported that in October 2023, the first inspection team of the Central Committee will be stationed in China Minmetals Corporation to carry out routine inspections and work in China Minmetals Corporation for about 2 months, during which it mainly accepts letters, calls and visits reflecting the problems of the leading group of the party group of China Minmetals Corporation and its members, the main persons in charge of the party organizations at the next level and personnel in key positions, focusing on reports and reflections on violations of political discipline, organizational discipline, integrity discipline, mass discipline, work discipline and life discipline.
Since then, Song Zhanjiang, former Secretary of the Party Committee and Chairman of China Minmetals China First Metallurgical Group Co., Ltd.; Zhang Mengxing, former secretary of the Party Committee and president of China Minmetals China Metallurgical Science and Industry Co., Ltd., was "dismissed" one after another on suspicion of serious violations of discipline and law.
It should be noted that since Chang Wei took the helm of Minmetals Securities, the company's performance has declined, and its revenue and net profit have "declined" for two consecutive years.
According to the annual report data, in 2022, Minmetals Securities will achieve operating income of 1.469 billion yuan, a year-on-year decrease of 27.51%; net profit was 377 million yuan, down 28.41% year-on-year. In 2023, the operating income will be 1.459 billion yuan, a year-on-year decrease of 0.65%; The net profit was 275 million yuan, down 27.06% year-on-year.
In the first half of 2024, Minmetals Securities' interim results will decline by "double digits". Unaudited financial data shows that in the first half of 2024, Minmetals Securities achieved operating income of 640 million yuan and net profit of 180 million yuan, down 14.9% and 18.42% respectively from the same period last year.
In terms of business lines, Minmetals Securities' proprietary business income increased significantly due to the fact that the investment income in the first half of the year "turned from negative to positive" compared with the same period, but the performance of other main business lines declined. Among them, the net income of brokerage fees was 32 million yuan, a decrease of 37.25% over the same period last year; the net fee income of investment banking business was 170 million yuan, a year-on-year decrease of 53.55%; the net fee income of asset management business was 40 million yuan, a year-on-year decrease of 34.43%; Self-operated business income (investment income + fair value change income) was 226 million yuan, an increase of 165.88% year-on-year. Industry insiders pointed out that the decline in the company's performance is also related to the overall sluggish performance of the securities industry. (Blue Whale News Hu Jie [email protected])