Yesterday, Huaan Securities Co.Ltd(600909) suddenly announced that Yang Aimin, the general manager, resigned for personal reasons. At present, Mr. Zhang Hongtao, the chairman of the board, is performing the duties of the general manager on his behalf. The announcement shows that the maximum period is no more than 6 months.
According to public data, Yang Aimin became the general manager of Huaan Securities Co.Ltd(600909) on June 4, 2018. As the old man of Huaan Securities Co.Ltd(600909) , Yang Aimin has participated in Huaan Securities Co.Ltd(600909) management division and decision-making as a senior manager since December 2012, and has been responsible for Huaan Securities Co.Ltd(600909) brokerage, investment banking and other related business management.
Prior to this, Huaan Securities Co.Ltd(600909) announced its annual report for 2021 on March 30. In 2021 Huaan Securities Co.Ltd(600909) achieved an operating revenue of 3.483 billion yuan and a net profit of 1.424 billion yuan attributable to shareholders of listed companies, with a year-on-year increase of 3.78% and 12.32% respectively.
According to the data of the Securities Industry Association, the total operating revenue of the whole industry in 2021 was 502410 billion yuan, a year-on-year increase of 12.03%. The net profit was 191119 billion yuan, with a year-on-year increase of 21.32%. The performance of Huaan Securities Co.Ltd(600909) 2021 was significantly worse than that of the industry.
The performance of Huaan Securities Co.Ltd(600909) 2021 was mainly affected by investment income. In 2021, the investment income of Huaan Securities Co.Ltd(600909) was 905 million yuan, a year-on-year decrease of 34.25%, of which the amount of income from the disposal of financial instruments decreased significantly year-on-year. In 2020, the Huaan Securities Co.Ltd(600909) investment income was 1.377 billion yuan, accounting for 41.01% of the income.
Table: Huaan Securities Co.Ltd(600909) 20182021 operating income and investment income
Data source: Ifind, China finance and Economics
In addition to the investment income, the income of Huaan Securities Co.Ltd(600909) ‘s asset management business also declined by 11.20% in 2021. On November 12, 2021, Huaan Securities Co.Ltd(600909) had been ordered to take corrective measures by Anhui securities regulatory bureau for violation of asset management business, while Huaan Securities Co.Ltd(600909) had just received a warning letter from Anhui securities regulatory bureau for violation of futures business the week before.
Despite poor performance and frequent compliance problems, Huaan Securities Co.Ltd(600909) still completed the allotment and issuance in 2021, and actually raised 3.9 billion yuan, of which 2 billion yuan was invested in capital intermediary business and 1 billion yuan in investment and trading business.
Whether the sudden resignation of the general manager will have an impact on relevant businesses will continue to be concerned by china.com finance and economics.
