On April 6, Qin Han, chief analyst of fixed income of Guotai Junan Securities Co.Ltd(601211) Securities Research Institute, apologized after the “wolf speech” was brushed in the financial circle!
He said that recently, in the internal working group, he was deeply guilty of improper expression, extreme words, simple and rough ways and methods to motivate employees, resulting in negative effects. I apologize for the trouble caused to relevant colleagues in the industry and the occupation of online topic resources.
Picture source: Qin Han’s wechat circle of friends
improper wording
On April 4, Qin Han told his team colleagues in the work group: “no matter what means, special roadshows, meals, accompanying games, research, databases, etc. each of you is a small team, with interns, rushing forward. If you can’t rush, please start looking for work and change careers after the Festival.”
Qin Han said: “I ask myself to send more than 10 circles of friends every day, and I won’t say anything about the forwarding of wechat group QQ group. I will bomb until wechat restricts the flow to me. From tomorrow, each of you will find a way to add all the company’s external communication group and customer third-party communication group. You must personally send wechat group, including circle of friends, in your field of responsibility, report or other content.”
He encouraged his colleagues not to be afraid of losing face and actively strive for some points. “Don’t be afraid to serve others. Don’t be afraid of losing face. I even changed my wechat signature to ‘please send some support’. I don’t care about these things. What else do you have to make a fool of?” “In the past few years, the result of the Buddhist system is to boil frogs in warm water, and everyone has been abandoned.”
The CEO of solid income also said: “I hope everyone will start to work crazily and engage in pie crazily from tomorrow.”
attracted peer attention
On April 5, after Qin Han’s remarks spread rapidly in the financial circle and attracted widespread attention, the person in charge of a media enterprise sent his remarks to the work group to urge employees; The Zheshang Securities Co.Ltd(601878) Research Institute, as a peer, believes that “the sleeping lion awakens”, organizes collective learning and requires to write down learning insights.
Zheshang Securities Co.Ltd(601878) Research Institute informed that “April 6 is the first day after the festival. The training originally scheduled for 9:30-11:30 is no longer organized uniformly by the whole institute. Instead, the league leaders of various functional units (industry chief and regional sales director) organize the members of the group to uniformly learn a wechat material being disseminated in the circle, and then each person in the Institute writes a perception of at least 300 words, which will be summarized before 22:00 p.m. on Wednesday, April 6.”
Zheshang Securities Co.Ltd(601878) Research Institute notice also pointed out: “in many people’s impression, some old brokerage research institutes are very Buddhist. Zhejiang merchants are full of wolves and beat chicken blood every day. This is not the case. When the sleeping lion wakes up, how can we have a chance? It is worth pondering.”
last year, the commission income of securities companies increased by 60% year-on-year
Since the end of last century, the Institute of securities companies has opened the business model of exchanging research for commission, and the fund sub warehouse Commission has become the main source of income for the Institute of securities companies. In recent years, although the income of sub warehouse Commission obtained by securities companies has been increasing, with more and more securities research institutes joining the war, the industry competition has become more and more fierce.
According to the data, in 2021, the total revenue of commission sub warehouse in the securities industry jumped to 22.25 billion yuan, a year-on-year increase of 59.64% Citic Securities Company Limited(600030) leads the industry with 1.667 billion yuan, ranking first Changjiang Securities Company Limited(000783) ranked second for the third consecutive year with 1.181 billion yuan Gf Securities Co.Ltd(000776) replaced China Securities Co.Ltd(601066) to become the third in the industry, with a commission revenue of 1.155 billion yuan.
Overall, the head securities companies still maintain the lead, but the industry concentration has decreased. In 2021, the top ten securities companies received a total of 9.951 billion yuan of commission revenue, accounting for 44.72%. This proportion has decreased compared with 2020. In 2020, the data was 45.86%, the highest in recent five years.
Behind the decline in industry concentration is the emergence of more cutting-edge research institutes. In 2021, a total of 24 securities companies achieved a year-on-year increase of more than 100% in the commission income of fund sub positions. Among them, deppon securities realized a fund sub warehouse commission income of 69 million yuan, a year-on-year increase of 909.55%; The fund sub warehouse commission income of Wanhe securities, Jinyuan securities and Kaiyuan securities increased by more than 300% year-on-year.
