Zheshang Securities(SH:601878) Xin Lang Cai Jing·2026-02-12 07:27Core Viewpoint - The appointment of Cheng Jingdong as the new president of Zheshang Securities marks a significant management change, filling the vacancy left by Qian Wenhai's promotion to chairman, and aims to stabilize the company's leadership structure [2][3][10]. Management Changes - Cheng Jingdong has been appointed as the deputy secretary of the party committee and nominated as the president of Zheshang Securities, following the announcement by Zhejiang Transportation Group [10][12]. - This appointment fills the presidential vacancy that has existed since October of the previous year when Qian Wenhai became chairman [3][12]. Executive Background - Cheng Jingdong, born in January 1970, holds a doctoral degree and is the highest-educated executive in the current management team of Zheshang Securities [4][12]. - He has extensive experience in the financial sector, having worked in various roles within regulatory bodies and financial institutions since 1992 [6][14]. Business Performance - Under Cheng's leadership, Zheshang Securities has seen a significant increase in its investment banking performance, with a total of 64 equity financing projects and 1,537 bond underwriting projects completed from 2019 to 2025, amounting to over 740 billion yuan in financing [7][15]. - In 2025, the company completed 7 equity financing projects, ranking in the top 15 nationally, and its bond underwriting projects exceeded 1 trillion yuan, ranking 12th in the country [7][15]. Financial Goals - Zheshang Securities aims to double its core indicators, including revenue, total profit, total assets, and net assets by the end of 2030, with a goal to enter the top 15 in the industry [8][15]. - As of the third quarter of 2025, the company reported a revenue of 6.789 billion yuan, a year-on-year increase of 66.73%, and a net profit of 1.892 billion yuan, up 49.57% [17]. Shareholder Structure - As of the end of the reporting period, the only shareholder with more than 5% ownership is Zhejiang Shangsan Expressway Co., Ltd., holding 46.46% of the shares [9][17].