cashspincasino| Li Wei, former chairman of Zhongtai Securities, was investigated: He had been at the helm of Zhongtai Securities for 17 years, and Zhongtai Securities has replaced two chairmen and one general manager in the past four years

editor 7 2024-04-20

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The website of the Central Commission for discipline Inspection and the National Supervisory Commission announced on April 19 that according to the Shandong Provincial discipline Inspection Commission, Li Wei, former member of the standing Committee of the Shandong Provincial Committee of the Chinese people's political Consultative Conference and former deputy director of the Economic Commission, is suspected of serious violations of discipline and the law and is currently under disciplinary examination and supervision investigation by the Supervisory Commission of the Shandong Provincial discipline Inspection Commission.

It is reported that Li Wei became chairman of Zhongtai Securities (formerly Qilu Securities) in 2003 and stepped down in 2020.

He was at the helm of Sino-Thai Securities for 17 years.

According to public data, Li Wei was born in 1962 in Jinan, Shandong Province. He has a doctoral degree and has been working in Shandong Province.

According to his resume, Li Wei graduated from Shandong Institute of Economics in 1983 and has served as deputy section chief, section chief, deputy director and director of the Finance Department of Laiwu Iron and Steel Plant.CashspincasinoDirector of the Finance Department of Laiwu Iron and Steel Co., Ltd., Deputy General Manager and Chief accountant of Laiwu Iron and Steel Co., Ltd. In 2002, Li Wei served as General Manager and Chairman of Laiwu Investment Group Co., Ltd.

In July 2003, Li Wei became chairman of Qilu Securities Co., Ltd. (renamed Zhongtai Securities in 2015).

In April 2019, Li Wei took over Ji Binchang as chairman of Luxin Group. According to public data, Luxin Group, formerly known as Shandong International Trust and Investment Company, is an important state-owned backbone financial enterprise managed by Shandong Provincial CPC Committee, and it is also an important main body of investment and financing and asset management platform in Shandong Province. It has 12 major direct management enterprises, such as Shandong International Trust Co., Ltd., Shandong Financial Asset Management Co., Ltd., Luxin Venture Capital Group Co., Ltd., Taixin Fund Management Co., Ltd., etc.

In October 2020, Sino-Thai Securities issued a notice to change the chairman of the board, saying that Li Wei would no longer serve as chairman of the company due to organizational restructuring.

Since January 2022, Li Wei has been appointed as a member of the standing Committee of the 12th Shandong Provincial Committee of the Chinese people's political Consultative Conference.

In July 2022, Luxin Group held a meeting of leading cadres, and Li Wei was relieved from his post as chairman of Luxin Group.

When Li Wei was at the helm, Sino-Thai Securities landed on the Shanghai Stock Exchange in June 2020 after completing the acquisition of Tiantong Securities in 2007 and changing its name in 2015.

Two former chairmen of Luxin Group have been investigated one after another. In January 2023, the official website of the Central Commission for discipline Inspection reported that Ji Binchang, chairman of the Qingdao Municipal Committee of the Chinese people's political Consultative Conference in Shandong Province, was suspected of serious violations of discipline and law and was subject to disciplinary examination and supervision investigation by the Central Commission for discipline Inspection and the State Supervisory Commission. Ji Binchang was "Shuangkai" in July 2023 and was prosecuted on suspicion of accepting bribes in October of the same year.

cashspincasino| Li Wei, former chairman of Zhongtai Securities, was investigated: He had been at the helm of Zhongtai Securities for 17 years, and Zhongtai Securities has replaced two chairmen and one general manager in the past four years

Senior executives have changed frequently since listing.

It is worth noting that since its listing, Sino-Thai Securities has made frequent movements in terms of shareholder changes and personnel changes. Two chairmen and one general manager have been replaced in the past four years.

Li Wei was succeeded by Li Feng, then deputy director of the Shandong Department of Finance. In August 2022, Li Feng was transferred to Secretary of the Party Group of the Department of Finance of Shandong Province.

In December 2022, Wang Hong became chairman of Zhongtai Securities. Wang Hong was born in May 1972. before becoming chairman of Zhongtai Securities, Wang Hong was the manager of the international business department of Shandong Transportation Development and Investment Company, and the deputy secretary and president of the party committee of Shandong State-owned assets Investment Holdings Co., Ltd.

The turnover of senior management of Sino-Thai Securities is also very frequent. In the first half of 2022, Li Hengdi, chief risk officer of Sino-Thai Securities, Zhang Yunwei, general counsel, and Zhong Jinlong, deputy general manager, left office one after another. In October of the same year, Bi Yuguo resigned as general manager of Zhongtai Securities, Feng Yidong took over; director Cao Mengbo resigned due to work adjustment; in December, Bi Yuguo became vice chairman. In March 2023, Sun Peiguo, deputy general manager, left office.

In addition, in 2022, the controlling shareholder of Sino-Thai Securities was changed from Laiwu Iron and Steel Group Co., Ltd. (hereinafter referred to as "Laiwu Iron and Steel Group") to Zaozhuang Mining (Group) Co., Ltd. (hereinafter referred to as "Zaozhuang Mining Group").

On July 1, 2022, Sino-Thai Securities announced that the CSRC approved the date Mining Group and high-speed investment to become the main shareholders of the company, Shandong Energy Group became the actual controller of the company, and the Securities Regulatory Commission transferred the company to the jujube Mining Group in accordance with the law.Cashspincasino7.3 billion shares (accounting for 32.62% of the total shares) and 371 million shares (5.32% of the total shares) of the company legally transferred by high-speed investment have no objection. After the transfer of this agreement and the completion of this free transfer, the controlling shareholder of Sino-Thai Securities will be changed from Laiwu Iron and Steel Group to Jujube Mining Group, and Shandong Energy Group will be an enterprise controlled by the State-owned assets Supervision and Administration Commission of Shandong Provincial people's Government. The ultimate actual controller of the company is still Shandong SASAC.

According to the 2023 annual report of Zhongtai Securities, the company's annual operating income was 12.762 billion yuan, up 36.86 percent over the same period last year; the total profit was 2.557 billion yuan, up 226.99 percent; the net profit was 2.061 billion yuan, up 193.03 percent over the same period last year; and the net profit belonging to the shareholders of the parent company was 1.8 billion yuan, an increase of 204.94 percent over the same period last year.

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