Guolian Minsheng Sec(SH:601456) 券商中国·2025-11-27 14:59Core Viewpoint - The integration of Guolian Securities and Minsheng Securities marks a significant milestone in the ongoing wave of mergers in the securities industry, with a focus on enhancing research capabilities and expanding international reach [1][4]. Group 1: Integration Progress - The research business integration between Guolian Securities and Minsheng Securities has been completed, leading to the establishment of the new Guolian Minsheng Securities Research Institute, which is managed by Hu Youwen and includes over 30 research teams [2][3]. - The merged research team has achieved a balanced integration, with each original team contributing equally, thus creating complementary advantages in personnel, expertise, and industry experience [3]. Group 2: Performance Metrics - Despite a general decline in commission rates across the industry, Guolian Minsheng Securities Research Institute reported a significant increase in commission revenue, reaching 463 million yuan, a year-on-year growth of 347.73%, and achieving a market share of 4.22%, ranking sixth in the industry [4]. Group 3: Strategic Goals - The research institute aims to establish itself among the industry leaders while expanding its international presence, focusing on optimizing team structure and enhancing research quality to maintain competitiveness [4][5]. - The institute plans to leverage financial technology and artificial intelligence to build a robust research framework, with initiatives such as the establishment of an AI research institute and the recruitment of international research experts [5]. Group 4: Business Line Integration - The integration of various business lines, including investment banking and wealth management, is progressing rapidly, with Guolian Securities completing the acquisition of 99.26% of Minsheng Securities by the end of December 2024 [6]. - The company has also transitioned its trading systems to support the wealth management business integration, laying a solid foundation for future operations [7].