Xin Lang Cai Jing·2025-08-27 05:18Group 1 - Wang Xiaogang resigned from his position as Deputy General Manager of Zhongyuan Securities due to a job change, as he was appointed as Deputy General Manager of Zhongyuan Trust [1][3] - Wang has a long career within the Zhongyuan system, having held various management positions since the establishment of Zhongyuan Securities in 2002, including roles in brokerage, wealth management, and asset management [3][4] - His departure is part of an internal personnel adjustment within the Zhongyuan system, as both Zhongyuan Securities and Zhongyuan Trust are controlled by the Henan Investment Group [4] Group 2 - Zhongyuan Securities is facing challenges in its business layout and revenue performance, particularly in its investment banking and asset management sectors, which have seen significant declines in revenue [5][7] - The brokerage business remains the main revenue driver, with net income from brokerage fees reaching CNY 643 million in 2024, a year-on-year increase of 20.88%, but this reliance on market fluctuations raises concerns about business resilience [5][7] - The company has implemented strong cost control measures, reducing operating expenses from CNY 18.04 billion in 2021 to CNY 11.43 billion in 2024, and decreasing average employee compensation from CNY 487,300 to CNY 272,500 during the same period [7][13]