Western Securities(SZ:002673) 中国基金报·2026-01-19 16:24Core Viewpoint - The resignation of Mu Qiguo as the head of the Research Institute of Western Securities marks a strategic shift in the company's research direction, with a focus on innovation and overseas business expansion [2][3]. Group 1: Leadership Changes - Mu Qiguo has stepped down as the head of the Research Institute, with Zhao Yinghua, the deputy general manager in charge of the research institute, taking over the role [2]. - Mu Qiguo will focus on the company's intelligent investment research and the establishment of research operations for its Hong Kong subsidiary [3]. Group 2: Future Directions - Western Securities aims to enhance its research capabilities by adhering to its core research principles while innovating and expanding into overseas markets [3]. - The company plans to strengthen its sell-side research and improve internal collaboration to better serve investors [3]. Group 3: Achievements and Recognition - During Mu Qiguo's tenure, the research team received several accolades, including the New Fortune Most Promising Research Institution Award for three consecutive years from 2019 to 2021 and the Best Social Responsibility Institution Award in 2021 [3]. Group 4: Strategic Insights - Mu Qiguo emphasized that smaller brokerages can focus on niche areas with significant beta changes and upstream industry research to provide unique insights and enhance alpha value for investors [5][6]. - He advocated for a shift in research business from information providers to technology-driven financial ecosystem enablers, utilizing AI and big data to create a specialized research framework [6]. Group 5: Financial Performance - Since 2025, the revenue and operating profit of the Research Development Center at Western Securities have seen significant year-on-year growth, with insurance clients becoming the main source of income [6].