Core Points - National Investment Corporation (国投资本) has undergone significant leadership changes, with General Manager Lu Jun resigning on July 2, 2024, and Chairman Cui Hongqin taking over his responsibilities temporarily [2][3] - The company has four major financial segments: securities, trust, fund, and futures, with National Investment Securities (国投证券) reversing a two-year profit decline due to strong proprietary trading performance [2][11] - The trust and futures segments continue to face profit declines, while the fund business is experiencing both scale and performance pressures [2][11] Leadership Changes - Lu Jun, who served as General Manager for only 1 year and 2 months, has left for a work transfer, and Cui Hongqin has been elected as the new Chairman [3][24] - Cui Hongqin has extensive financial management experience and previously held various senior positions within the National Development Investment Group [3][24] - The former Chairman, Duan Wenwu, has transitioned to a role at China Minmetals and is expected to resign from his position as Chairman of National Investment Securities soon [5][24] Business Performance - National Investment Securities reported a revenue of 10.78 billion yuan in 2024, a 1.95% increase year-on-year, with a net profit of 2.53 billion yuan, up 30.49% [11][23] - The significant profit increase is attributed to a remarkable 834.62% rise in proprietary trading income, while other business segments like brokerage and asset management saw declines [11][12] - The overall revenue for National Investment Corporation in 2024 was 15.06 billion yuan, a decrease of 13.76%, marking the lowest level in four years [23] Segment Analysis - National Investment Securities accounts for over 71.62% of National Investment Corporation's revenue, highlighting its critical role in the overall business [11][23] - The trust segment, National Investment Taikang Trust, reported a revenue decline of 22.17% to 1.466 billion yuan, and net profit fell by 29.75% [16][23] - National Investment Futures has faced a continuous decline in net profit for three consecutive years, with a reported net profit of 215 million yuan in 2024, down 15.69% [20][21] Market Environment - The performance of National Investment Corporation's various segments reflects the broader market conditions, with the securities sector benefiting from a recovering market while trust and futures face challenges [23][24] - The recent leadership changes may impact the company's strategic direction and operational stability, raising concerns about team cohesion and market confidence [23][24]

高层大换血 国投证券高层人事变动还在持续。 近日，五矿集团官网最新信息显示，原国投证券董事长段文务已于5月30日出任五矿集团党组成员、总 会计师。就在两个多月前，国投证券刚迎来了一名新的高管，即担任副总经理、总会计师、董事会秘书 的孙婷。 近年来，国投证券的高层调整不断。去年4月，国投证券免去王连志公司董事、总经理职务。同年10 月，在代行总经理职责半年之后，王苏望正式出任国投证券总经理。年底，国投证券再迎人事变动，3 名核心高管"辞任"，包括副总经理兼董事会秘书刘纯亮，财务总监杨成省和副总经理魏峰，公司7名高 管减至4人。直至今年3月，新增孙婷后，高管团队增至5人。 国投证券的人事动荡也向中层传导，在加盟不到一年半的时间后，原国投证券研究中心总经理助理、首 席固定收益分析师尹睿哲及其团队加入了国金证券。 持续的变动后，据接近国投证券人士透露，除了投行业务外，公司已没有分管业务的副总裁，多项业务 均由总经理王苏望"一肩挑"。 最新数据显示，国投证券扭转了业绩持续下滑的局面 ，2024年报披露，国投证券去年实现营业总收入 为107.84亿元，同比增长1.9%；归母净利润为25.29亿元，同比增长30.43%。 ...