Zhong Zheng Wang·2025-11-27 09:11Core Viewpoint - Guolian Minsheng Securities has completed the integration of research operations, aiming to enhance its research capabilities and move towards becoming a top-tier investment bank in the industry [1][3]. Group 1: Research Integration - The newly formed research institute is led by Hu Youwen, featuring over 30 research teams and multiple sales teams, achieving comprehensive coverage across all industry research areas [1][2]. - The research institute has established a complete research system, with key figures such as Chief Economist Tao Chuan providing top-level logical support, and other executives focusing on macro and cyclical research [2]. Group 2: Performance and Growth - In 2024, despite a 34.74% decline in overall commission revenue in the industry, Guolian Minsheng Securities reported a significant increase of 347.73% in its research business commission revenue, reaching 463 million yuan, with a market share of 4.22% [3]. - The merger has led to a notable improvement in rankings, with the combined entity moving from 17th and 38th positions to 6th in the industry [3]. Group 3: Strategic Direction - The research institute aims to drive growth through a dual strategy of local industry empowerment and international expansion, engaging with markets along the Belt and Road Initiative [4]. - The company plans to enhance its research capabilities and maintain a strong position in the industry by optimizing team structures and improving report quality [3][4].