Frequent personnel changes in sell-side at the beginning of 2026: Wu Chaoze and Huang Wentao of CSC have new positions, and there are also adjustments at Xiangcai and SINOLINK SECURITIES

At the beginning of 2026, there have been frequent personnel changes among sell-side firms, including several brokerages such as CSC, SINOLINK SECURITIES, and Xiangcai Securities, all of which have seen adjustments in their research departments involving star analysts. However, the reporter noted that the adjustments of star analysts at the three institutions vary in terms of the nature of the changes, including internal position shifts, retirement due to age, and "transfers" to join other firms