Guolian Minsheng Securities President Ge Xiaobo Resigns; Vice President Takes Acting Role

Guolian Minsheng Securities Co. , Ltd. announced on August 21, 2026 that Ge Xiaobo, executive director and president, has resigned from his roles as executive director, president, member of the board's risk control committee, and member of the board's strategy and ESG committee due to personal reasons. Following his resignation, he will no longer hold any positions at the company or its controlling subsidiaries. The announcement stated that Executive Vice President Wang Jinling will act as president until a new president is appointed.

Born in 1970, Ge Xiaobo was among China's first batch of sponsor representatives. He joined CITIC Securities in 1997 and served there for 22 years, at various times overseeing core business lines including investment banking, risk control, finance, derivatives, overseas operations, and fixed income. In 2018, his pre-tax compensation at CITIC Securities reached RMB 15.67 million, the highest among the firm's senior executives. In April 2019, Ge resigned from all positions at CITIC Securities for personal reasons, and in June of the same year he became president of Guolian Securities. Guolian Securities listed on the Shanghai Stock Exchange on July 31, 2020, and in 2021 both its revenue and net profit attributable to shareholders grew more than 50% year-on-year.

In 2024, Guolian Securities launched a major asset restructuring to acquire Minsheng Securities through the issuance of A-shares, the first brokerage merger to pass regulatory review after the introduction of the new "State Nine Articles." On December 30, 2024, the company completed the transfer of 99.26% of Minsheng Securities' equity. In February 2025, the company was renamed Guolian Minsheng Securities. In August 2025, Ge Xiaobo stepped down as chairman and was succeeded by Party Secretary Gu Wei, while remaining executive director and president. In the first full year after the merger, the company achieved revenue of RMB 7.673 billion in 2025, up 185.99% year-on-year; net profit attributable to shareholders of RMB 2.009 billion, up 405.49%; and total assets of RMB 203.22 billion. On August 10, 2026, Guolian Minsheng announced an asset transfer plan, allocating wealth management business assets to Minsheng Securities at no cost, forming a group structure of "one headquarters plus multiple professional subsidiaries," and disclosed an A-share buyback scheme.

China Renaissance Holdings Limited recorded losses for three consecutive years from 2022 to 2024 before returning to profitability in 2025, with annual revenue of RMB 1.066 billion, up 37.2% year-on-year, and net profit attributable to shareholders of RMB 101 million. Within this, investment management revenue reached RMB 733 million, up 131.6% and accounting for nearly 70% of total revenue, while traditional investment banking revenue fell 42.6% to RMB 129 million, with operating losses widening. Huaxing Securities has in recent years focused on its "new economy industry investment bank" and "smart wealth management" strategy, and its core management team underwent intensive restructuring between the second half of 2024 and early 2025.