Core Viewpoint - The integration of Guolian Minsheng Securities and Minsheng Securities is progressing with the successful switch of the centralized trading system, marking a significant milestone in their business consolidation [2][3][12] Group 1: System Integration - The centralized trading system switch was successfully completed, allowing 1.92 million Minsheng Securities brokerage clients to seamlessly access the Guolian Minsheng Securities UF 2.0 trading system [2][5] - On the first day of the switch, 640,000 client transactions were processed, amounting to 9.476 billion yuan, with zero faults reported [2][5] - The system switch involved 23 heterogeneous systems, covering 74 Minsheng Securities branches, 69 trading seats, and 18 custodian banks [8] Group 2: Project Management - The project was treated as a top priority, with a special leadership team established to oversee the integration, ensuring efficient resource allocation and rapid decision-making [8][9] - A cross-departmental project command center was formed, with detailed plans and contingency measures in place to manage the transition effectively [8] Group 3: Financial Preparedness - Guolian Minsheng Securities allocated 50 million yuan of its own funds, while Minsheng Securities contributed 200 million yuan to address potential settlement risks during the initial phase of the system switch [10] Group 4: Industry Context - The merger and integration of securities firms have accelerated this year, with notable cases including Guotai Junan + Haitong Securities and Guolian Securities + Minsheng Securities [11] - The successful integration of Guolian Minsheng Securities and Minsheng Securities is seen as a benchmark case in the industry, contributing to the overall consolidation trend [11][12]

Core Insights - The successful switch of the centralized trading system marks a significant milestone in the integration of Guolian Minsheng Securities and Minsheng Securities, allowing seamless access for 1.92 million brokerage clients to the new UF 2.0 trading system [1] - The project involved the integration of 23 heterogeneous systems, covering 74 branches, 69 trading seats, and 18 custodial banks, highlighting the complexity and high standards of the operation [2] Group 1: Project Execution - The switch was executed during a long non-trading period to minimize client impact and ensure business continuity, with only two available windows each year [2] - The project was supported by regulatory guidance throughout the entire process, ensuring effective communication with various regulatory bodies [2] - The company established a dedicated leadership team for the project, emphasizing its importance and ensuring efficient resource allocation [3] Group 2: Preparation and Support - Comprehensive preparations began in February, with project personnel working for seven months to meet the launch requirements before the National Day holiday [3] - A dynamic risk monitoring mechanism was established to oversee risks and public sentiment during the integration process [3] - The company allocated significant financial resources, including 500 million yuan from Guolian Minsheng Securities and 200 million yuan from Minsheng Securities, to address potential settlement risks during the initial phase [3] Group 3: Team Effort and Industry Impact - A project team of nearly 200 individuals worked tirelessly during the National Day holiday, demonstrating a strong sense of responsibility and commitment [4] - The successful switch sets a benchmark in the industry, providing a complete solution and practical blueprint for other firms amid the ongoing wave of mergers and acquisitions in the securities sector [5] - The company aims to leverage this success to enhance its technological framework and deepen business integration, contributing to the high-quality development of the capital market [5]

Core Viewpoint - The successful migration of the trading system marks a significant milestone in the integration of Guolian Minsheng Securities and Minsheng Securities, enhancing operational efficiency and client service capabilities [1][2][3]. Group 1: System Migration and Integration - The trading system switch involved a comprehensive integration of 23 heterogeneous systems, impacting 74 branches of Minsheng Securities and 69 trading seats across 18 custodial banks [2]. - On October 9, the first day of the switch, the company processed 640,000 transactions amounting to 9.476 billion yuan, achieving a "zero-failure" status [1][3]. - The project preparation began in February, with nearly 200 personnel working continuously for 7 months to ensure a smooth transition during the National Day holiday [2][3]. Group 2: Project Management and Oversight - The project was classified as a "top priority" initiative, led by the chairman and president, ensuring efficient resource allocation and rapid decision-making [3]. - A robust communication mechanism was established with regulatory bodies, facilitating guidance and support throughout the project lifecycle [3]. - A dynamic risk monitoring system was implemented to oversee potential risks and public sentiment during the integration process [2]. Group 3: Future Outlook - The successful completion of the trading system switch lays a solid foundation for the integration of wealth management services, with the company aiming to enhance its technological framework and deepen business integration [6]. - The company plans to focus on developing "industrial investment banking, technology investment banking, and wealth investment banking" as part of its strategic goals moving forward [6].