Witness the “she” power in the securities industry! A new female chairman of the board of directors of listed securities companies is coming.
On April 20, Boc International (China) Co.Ltd(601696) issued an announcement on the resignation of the chairman and the election of a new chairman Boc International (China) Co.Ltd(601696) said that it recently received the resignation report of former chairman Lin Jingzhen, which will take effect from the date of delivery to the board of directors. Elected by the board of directors, Ning min became the new chairman and served as the director of the strategy and Development Committee of the board of directors.
At the age of 49, she will be the chairman of a listed securities company. Ning min’s resume is quite excellent. She has worked in Bank Of China Limited(601988) for many years, and has regulatory experience and fund experience. After Ning min was promoted to Chairman of the board and the post of president was vacant, Boc International (China) Co.Ltd(601696) the new president candidate was highly expected.
Lin Jingzhen bid farewell Boc International (China) Co.Ltd(601696)
As an important member of Bank Of China Limited(601988) financial territory, the chairman of Boc International (China) Co.Ltd(601696) is naturally inseparable from the background of BOC. After four years of “part-time work”, Lin Jingzhen said goodbye to Boc International (China) Co.Ltd(601696) .
Boc International (China) Co.Ltd(601696) said that its board of directors recently received the resignation report submitted by Lin Jingzhen Bank Of China Limited(601988) Vice President Lin Jingzhen applied for resignation as Boc International (China) Co.Ltd(601696) director, chairman of the board of directors and director of the strategy and Development Committee of the board of directors due to work arrangement, and he will no longer hold any post after resignation. The resignation report shall take effect from the date of delivery to the board of directors.
According to public information, Lin Jingzhen was born in 1965 and served as Bank Of China Limited(601988) executive director and vice president. As early as 1987, Lin Jingzhen has joined Bank Of China Limited(601988) , which has been 35 years. From April 2018 to December 2020, he concurrently served as the chairman of BOC International Holdings and Boc International (China) Co.Ltd(601696) chairman from May 2018. Although he served as the chairman of the board in Boc International (China) Co.Ltd(601696) , according to the information of annual reports over the years, Lin Jingzhen did not pay in Boc International (China) Co.Ltd(601696) but was paid in Bank Of China Limited(601988) aspect, which also reflected his “part-time” status.
During Lin Jingzhen’s tenure, Boc International (China) Co.Ltd(601696) the most important “event” is the successful listing of the company. In February 2020, Boc International (China) Co.Ltd(601696) successfully landed in the A-share market. At that time, Boc International (China) Co.Ltd(601696) issued 278 million shares and raised 1.52 billion yuan. As of the closing on April 20, the total market value of Boc International (China) Co.Ltd(601696) reached 36.9 billion yuan.
In terms of equity structure, at present, BOC International Holdings Co., Ltd., a wholly-owned subsidiary of Bank Of China Limited(601988) is the largest shareholder of Boc International (China) Co.Ltd(601696) and holds 33.42% of Boc International (China) Co.Ltd(601696) The second largest shareholder of Boc International (China) Co.Ltd(601696) is Petrochina Company Limited(601857) group Capital Co., Ltd., a financial business integration platform under PetroChina, with a shareholding of 14.32%.
With regard to Lin Jingzhen’s “successful retirement”, Boc International (China) Co.Ltd(601696) said that during his tenure, he was scrupulous and diligent, and played an extremely important role in promoting Boc International (China) Co.Ltd(601696) a-share listing, standardizing corporate governance and sustainable and steady development Boc International (China) Co.Ltd(601696) and the board of directors express their sincere respect and gratitude to Lin Jingzhen for his outstanding contributions during his tenure.
Since the beginning of this year, Boc International (China) Co.Ltd(601696) directors and senior executives have successively heard changes. In January 2022, Boc International (China) Co.Ltd(601696) director Zhang Jing and supervisor Zhang Lina resigned. On March 16, Boc International (China) Co.Ltd(601696) Board Secretary Zhai Zengjun also submitted a resignation report, saying that he applied for resignation as secretary of the board of directors due to job change and would not hold any position in the company after resignation.
After Lin Jingzhen left office, Bank Of China Limited(601988) did not appoint a new chairman, but Ning min, the former Boc International (China) Co.Ltd(601696) executive president, took over.
On April 20, Boc International (China) Co.Ltd(601696) the ninth meeting of the second board of directors deliberated and adopted the proposal on electing the chairman of the company, and elected director Ning min as the chairman of the second board of directors. After Ning min was elected as chairman, he also served as director of the strategy and Development Committee of the board of directors.
Public information shows that Ning min was born in July 1973, obtained a doctor of law degree from the Chinese Academy of Social Sciences, and has a resume of post doctoral research in finance at the post doctoral mobile station of the Research Bureau of the people’s Bank of China. During the ten years from 1999 to 2009, Ning min worked in Bank Of China Limited(601988) head office and successively served as a cadre of the system agreement division of the Legal Affairs Department of Bank Of China Limited(601988) head office, a cadre and deputy director of the first division of all asset protection business, a senior compliance officer of the fund custody department and the head of the financial market headquarters.
In 2009, Ning min stood out in the cadre competition of Bank Of China Limited(601988) and went to BOC fund as Assistant CEO in charge of marketing business. At that time, Ning min once had the reputation of “marketing Iron Lady” and had a deep understanding of channel and customer marketing management. During his tenure, the asset scale of BOC fund increased by leaps and bounds from less than 30 billion yuan in 2009 to 100.1 billion yuan in 2012, and successfully ranked among the top ten fund management companies.
From August 2013 to December 2014, Ning min worked as deputy inspector in Shandong banking regulatory bureau. At the end of 2014, Ning min joined Boc International (China) Co.Ltd(601696) and served as CEO and director for nearly seven and a half years. In October 2020, Ning min became the party secretary of Boc International (China) Co.Ltd(601696) . According to industry practice, party posts are generally held by the chairman of the board.
In March this year, Forbes released the “top 100 Chinese outstanding business women in 2022”, and Ning min ranked 92nd as Boc International (China) Co.Ltd(601696) CEO. Sun Wei, CEO of Morgan Stanley China, and Xu Zhaohui, chairman of Western Securities Co.Ltd(002673) board of directors, were also outstanding women in the securities industry. The list focuses on Chinese business women and makes a comprehensive assessment of the income and profits created by female entrepreneurs in charge of the enterprise, as well as their role in the enterprise and its impact.
After Ning min was promoted to Chairman of the board and the post of president was vacant, Boc International (China) Co.Ltd(601696) the new president candidate was highly expected. Whether BOC “airborne” cadres or vice presidents who are more familiar with the company’s situation will take over, and even whether market-oriented recruitment will be carried out has become the focus of the industry.
According to the annual report of Boc International (China) Co.Ltd(601696) 2021, the company currently has only one Vice Executive President.
According to the resume, Shen Feng, vice president of Boc International (China) Co.Ltd(601696) was born in March 1970. Before joining Boc International (China) Co.Ltd(601696) in April 2016, he worked in Bank Of China Limited(601988) system for more than 20 years and was the “old man” of BOC system. In addition to Shen Feng, Boc International (China) Co.Ltd(601696) the senior executives with BOC background also include Zhao Xianglei, risk director, and Zhao Qingwei, asset management director.
repeatedly reduced by minority shareholders
From the annual report of 2021, the overall development trend of Boc International (China) Co.Ltd(601696) Boc International (China) Co.Ltd(601696) the annual operating revenue was 3.334 billion yuan, an increase of 2.75% year-on-year; The net profit attributable to the parent company was 962 million yuan, a year-on-year increase of 8.88%; The weighted average return on net assets was 6.26%, a year-on-year increase of 0.11 percentage points.
In terms of specific business, Boc International (China) Co.Ltd(601696) asset management business has obvious advantages. By the end of 2021, Boc International (China) Co.Ltd(601696) entrusted clients had assets of 755.1 billion yuan, ranking third in the market, including 116 billion yuan of public funds under management. In the current period, the net income from the asset management business of entrusted customers was 773 million yuan, ranking in the forefront of the industry.
In terms of share price performance, since March this year, Boc International (China) Co.Ltd(601696) share price has risen as a whole, and has pulled out the limit board several times, which has performed quite well in a number of securities companies. However, recently Boc International (China) Co.Ltd(601696) is frequently suffering from the reduction of minority shareholders.
On April 13, Boc International (China) Co.Ltd(601696) the fourth largest shareholder Jiangxi Copper Company Limited(600362) threw out a huge reduction plan. According to the reduction announcement, Jiangxi Copper Company Limited(600362) and its concerted party, Jiangxi Copper finance, held a total of 158 million Boc International (China) Co.Ltd(601696) non tradable shares, accounting for 5.69% of the total share capital, which were obtained before the IPO. Due to the needs of its own operation and development, Jiangxi Copper Company Limited(600362) and its acting in concert, Jiangxi Copper financial plan to reduce the total holdings of Boc International (China) Co.Ltd(601696) shares by no more than 111 million shares, no more than 4% of the total share capital.
Prior to the disclosure of the reduction announcement, on April 13, the Boc International (China) Co.Ltd(601696) share price once rose to 16.02 yuan / share, setting a small peak of the recent share price record. Under the impact of the reduction of shareholders’ holdings, the Boc International (China) Co.Ltd(601696) share price has fallen all the way recently, with a decline of 12.18% in the last five days.
In addition to the reduction of Jiangxi Copper Company Limited(600362) , Yunnan Investment Holding Group Co., Ltd., the sixth largest shareholder of Boc International (China) Co.Ltd(601696) disclosed the results of the reduction of about 222237 million shares on January 11, and launched a new reduction plan on January 18 and March 16, with a total reduction of 63.894 million shares, no more than 2.3% of the total share capital of Boc International (China) Co.Ltd(601696) . It is noteworthy that Zhang Jing, the director and Zhang Lina, the supervisor who resigned in January this year, were nominated by cloud investment group.
For the recent reduction of shareholders’ holdings, investors have repeatedly shouted to Boc International (China) Co.Ltd(601696) on the SSE e interactive platform to question the reduction. In response, Boc International (China) Co.Ltd(601696) replied that the rise and fall of share price is a market behavior. The stock price in the secondary market is affected by the macroeconomic environment, market trend, market sentiment and other factors, which is uncertain. Please pay attention to the investment risk.
\u3000\u3000
