BOC International Securities Dismisses Senior Client Manager Wang Wei Amid Probe

On September 11, 2026, the disciplinary inspection and supervision group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at Bank of China, together with the Shanghai Municipal Commission for Discipline Inspection and Supervision, announced that Wang Wei, a senior client manager at BOC International Securities Co. , Ltd. (601696. SH), is suspected of serious disciplinary and legal violations and is undergoing disciplinary review by the inspection group and supervisory investigation by the Shanghai Municipal Supervisory Commission. On the same day, BOC International Securities announced that its board of directors had approved the dismissal of Wang Wei from his position as senior client manager, and that he would no longer hold any position at the company or its controlled subsidiaries. As of September 15, 2026, it remained undetermined whether the case involved personal disciplinary and legal violations or was connected to the company's business management, and the investigation results are still awaiting disclosure by the disciplinary and supervisory authorities.

Wang Wei was born in 1969 and began working in 1988. He joined BOC International Securities in December 2017 and previously served as general manager of the wealth management department, general manager of the internet finance department, and deputy general manager of the retail brokerage segment. In August 2024, Wang Wei was appointed senior client manager and a member of the executive committee of BOC International Securities. In the company's 2025 annual report, Wang Wei appeared in the "senior management" category. In recent years, BOC International Securities has made wealth management one of its key business priorities.

Regarding the share price, BOC International Securities fell for two consecutive trading sessions on September 14 and 15, 2026. Since the start of 2026, the stock has declined 25.56% cumulatively.

On the performance side, in 2025 BOC International Securities recorded operating revenue of RMB 3.390 billion, up 17.39% year on year, and net profit attributable to shareholders of RMB 1.045 billion, up 15.32% year on year. In the first half of 2026, the company recorded operating revenue of RMB 1.922 billion and net profit attributable to shareholders of RMB 746 million. In the first half of 2026, the company's net fee income from brokerage business reached RMB 858 million, up about 59.48% year on year; of this, net income from securities brokerage was RMB 778 million, net income from futures brokerage was RMB 80 million, net income from investment consulting was RMB 17 million, and asset management business contributed RMB 75 million, all showing varying degrees of growth.

Among the regulatory measures BOC International Securities has received in recent years, most involved branch offices and frontline staff, with violations concentrated in wealth management and brokerage business and in areas such as practitioner qualification management, illegal securities trading, and failures in abnormal trading monitoring. In December 2024, then chief compliance officer Qi Lei left his post, and Zhou Bing assumed the role of chief compliance officer on an acting basis. In June 2025, the qualification of Gai Wenguo, the audit director, to concurrently serve as chief compliance officer was approved by the Shanghai Securities Regulatory Bureau, and he formally took office.

On July 31, 2026, the National Financial Regulatory Administration, the People's Bank of China, the China Securities Regulatory Commission, and the Ministry of Finance jointly issued the Implementation Opinions on Improving the Governance of Financial Institutions, emphasizing stronger oversight of the "top leaders" and leadership teams of financial institutions, improving mechanisms for the allocation and exercise of power, strictly implementing accountability requirements for preventing and defusing financial risks, intensifying accountability, and upholding the principle of investigating both conduct and corruption, strictly handling corruption behind financial risks such as "relying on finance to feed on finance" and "relying on regulation to feed on regulation." As of September 15, 2026, the follow-up investigation conclusions are still awaiting disclosure by the supervisory authorities.