Zhongtai Securities partners with Alibaba Qianwen, Wang Hong adjusts organizational structure

Text / Rui Finance Xu Shumin

In early February, Zhongtai Securities held its 2026 work conference in Jinan.

Chairman Wang Hong of Zhongtai Securities attended the meeting and delivered a speech. General Manager Feng Yidong presided over the meeting and outlined plans for the 2026 business operations.

The meeting emphasized the need to enhance support in wealth management, improve the reputation of investment banking, increase contributions from proprietary trading, empower research and institutional business, refine asset management, and boost subsidiary output, thereby building a solid foundation for high-quality development.

During the meeting, Wang Hong and Feng Yidong signed the 2026 operational target responsibility agreement. Feng Yidong, along with vice presidents responsible for various business lines and key subsidiary leaders, also signed responsibility agreements.

Looking back at 2025, Zhongtai Securities delivered a positive performance.

Preliminary results show that in 2025, Zhongtai Securities achieved a net profit attributable to parent company between 1.312 billion and 1.499 billion yuan, representing a year-over-year increase of 40% to 60%.

Compared to 2024, the net profit attributable to parent decreased by 47.92%.

Maintaining growth remains a key challenge for Zhongtai Securities moving forward.

First, Zhongtai Securities is strengthening its capital foundation.

By the end of 2025, Zhongtai Securities completed registration capital and business address change procedures. The company’s registered capital increased from 6.921 billion yuan to 7.918 billion yuan, and its registered address was moved from Shizhong District, Jinan, to the Financial Business District of High-tech Zone.

Meanwhile, Zhongtai Securities is actively adjusting its organizational structure.

According to business development needs, the company established underwriting and sponsorship subsidiaries, proprietary trading subsidiaries, and research consulting subsidiaries. Once these three subsidiaries obtain securities and futures business licenses, the company will dissolve its Investment Banking Committee, Financial Markets Committee, Research Institute, and their subordinate departments.

Tianyancha data shows that on January 30, Zhongtai Securities Co., Ltd. Shandong Securities Underwriting and Sponsorship Subsidiary, Zhongtai Securities Co., Ltd. Shandong Securities Proprietary Trading Subsidiary, and Zhongtai Securities Co., Ltd. Shandong Securities Research and Consulting Subsidiary all completed registration procedures.

As 2026 begins, Wang Hong and Feng Yidong are busy signing strategic cooperation agreements with various parties to explore more growth opportunities.

For example, in mid-January, Zhongtai Securities signed a strategic cooperation agreement with Alibaba Cloud Full-stack AI. As a result, Zhongtai Securities became the first securities firm to deeply cooperate with Alibaba’s Qianwen system upgrade, aiming to create the “Qianwen Qintai” investment advisory brand in wealth management.

In February, Zhongtai Securities signed a strategic cooperation agreement with Shandong Heavy Industry Group, aiming to deepen collaboration in equity financing, debt financing, wealth management, and industry research.

From these actions, it’s clear that Zhongtai Securities is focusing on growth in wealth management and investment banking.

However, these two major business areas face certain challenges.

For instance, wealth management at Zhongtai Securities faces transformation difficulties, while investment banking is dealing with declining performance and compliance issues.

According to data, in the first half of 2025, Zhongtai Securities’ investment banking revenue was 261 million yuan, a decrease of 46.84% year-over-year.

Regarding compliance, recently, the Shanghai Stock Exchange held accountable the sponsor securities firm, accounting firm, and law firm involved in the Kirin Xin’an IPO project. Zhongtai Securities, as the sponsor, issued inspection opinions that did not match the actual situation, with insufficient supporting basis, and failed to fulfill its sponsorship responsibilities properly.

Related companies: Zhongtai Securities SH600918, Zhongtai