CCSC(SH:601375) Di Yi Cai Jing·2025-03-26 11:13Core Points - Zhongyuan Securities is set to appoint Zhang Qiuyun as the new chairman, following a recommendation from the Henan Provincial Committee of the Communist Party of China [1][2] - The company has experienced a wave of executive changes, with nearly 20 securities firms undergoing leadership transitions since April 2024, many of which have appointed leaders born in the 1970s [1][4][5] Company Overview - Zhang Qiuyun, born in 1972, currently serves as a director at Zhongyuan Securities and is the deputy general manager of its controlling shareholder, Henan Investment Group, which holds 22.05% of Zhongyuan Securities [2] - The current chairman, Lu Zhilin, born in 1966, has been with Zhongyuan Securities for over 22 years and has held the chairman position since July 2023 [3] Financial Performance - Zhongyuan Securities has faced challenges, with its revenue and net profit declining in the first three quarters of 2024. Revenue was reported at 1.292 billion yuan, a decrease of 12.51% year-on-year, while net profit was 1.632 billion yuan, down 21.69% year-on-year [3] Regulatory Issues - In October 2024, Zhongyuan Securities was suspended from bond underwriting for six months due to multiple violations in its bond business, including inadequate checks on issuers' repayment capabilities and issues with quality control [3] Industry Trends - The securities industry is witnessing a significant turnover in leadership, with many firms appointing new executives due to retirement, personal adjustments, and shareholder changes. Notably, over half of the firms have appointed leaders from the 1970s generation [5][6]