GUOSHENG SECURITIES(SZ:002670) Sou Hu Cai Jing·2026-02-11 03:32Core Viewpoint - A recent controversy involving Yang Tao, the head of Guosheng Securities Research Institute, has sparked discussions in the financial sector due to his harsh remarks about employee performance and bonuses, leading to scrutiny of the brokerage firm [1][5]. Company Overview - Guosheng Securities Research Institute, established in early 2018, is a sell-side research institution under Guosheng Securities, led by Yang Tao, a prominent analyst with a history of accolades [4]. - The research team has grown to over a hundred members, covering six major research areas including total volume, technology, consumption, midstream manufacturing, bulk commodities, and infrastructure real estate, along with a blockchain research institute [4]. Recent Developments - In January 2025, Guosheng Securities publicly announced recruitment for several positions, indicating a significant turnover of analysts, including the departure of three star analysts in November 2024 [5]. - The company is the first and only listed brokerage in Jiangxi Province, and its parent company, Guosheng Jinkong, received approval from the CSRC for a merger that allows for a unique path to listing [6]. Financial Performance - For the first three quarters of 2025, Guosheng Securities reported a substantial increase in revenue, reaching 1.856 billion yuan, a year-on-year growth of 46.84%, and a net profit attributable to shareholders of 242 million yuan, soaring by 191.21% [8]. - The company anticipates a full-year net profit between 210 million to 280 million yuan for 2025, representing a year-on-year increase of 25.44% to 67.25% compared to 167 million yuan in 2024 [8].