兴业证券官宣换帅，同日澄清合并传闻，业绩靠投资驱动实现增长

Group 1 - The core point of the news is the appointment of Su Junliang as the new Party Secretary of Industrial Securities, which has led to speculation about a potential merger with Huafu Securities, although the company has clarified that no such plans are in place [1][5][6] - Su Junliang has a long background in banking, having held various positions in Industrial Bank and Huafu Securities, which may bring valuable management experience to Industrial Securities [4][5] - The market reacted to the merger speculation with a significant stock price fluctuation, with Industrial Securities' stock initially rising by 9.29% on June 11, but then falling by 4.79% the following day after the merger expectations were dismissed [5][6] Group 2 - Industrial Securities reported a revenue of 12.354 billion yuan in 2024, a year-on-year increase of 16.25%, and a net profit of 2.164 billion yuan, up 10.16% [7] - In the first quarter of 2025, the company continued its growth trend with revenues of 2.792 billion yuan and a net profit of 516 million yuan, representing year-on-year increases of 17.48% and 57.32% respectively [7] - The company's revenue growth was primarily driven by investment income and other business revenues, although there was a decline in net commission income from fees and commissions by 14.26% for the full year [7][8]