500 billion brokerages change leadership, "post-65" veteran suddenly resigns

On the evening of December 8, Dongfang Securities announced the departure of Gong Dexiong.

Gong Dexiong has left a profound mark on many financial institutions in Shanghai.

Dongfang Securities stated that Gong Dexiong served as the party secretary, executive director, and chairman of the company since September 2023. The company's board of directors expressed heartfelt gratitude for Gong Dexiong's outstanding contributions to the company's development.

The announcement indicated that prior to the appointment of the new chairman, the company's vice chairman, Lu Weiming, would act as chairman, legal representative, and authorized representative of the Hong Kong Stock Exchange.

Gong Dexiong's Departure

On the evening of December 8, Dongfang Securities announced that it had recently received Gong Dexiong's resignation letter. Due to work relocation, Gong Dexiong applied to resign from the positions of chairman, executive director, and chairman of the board's strategy and sustainable development committee, as well as a member of the remuneration and nomination committee. After resigning, he will no longer hold any positions in the company or its holding subsidiaries.

According to the company's articles of association and other regulations, prior to the appointment of the new chairman, the company's vice chairman, Lu Weiming, will act as chairman, legal representative, and authorized representative of the Hong Kong Stock Exchange.

Dongfang Securities stated that Gong Dexiong's departure would not result in the board of directors having fewer members than the legal minimum, and his resignation will take effect from the date it is delivered to the company's board of directors.

Gong Dexiong confirmed to the company's board that there were no disagreements with the company or the board, nor were there any matters that needed to be communicated to shareholders or the Hong Kong Stock Exchange due to his resignation, and he has completed the handover of work as required.

About Gong Dexiong

Gong Dexiong was born in 1969. He has left a profound mark on many financial institutions in Shanghai.

He has served as the deputy director of the Pudong branch of the Securities Department of Shanghai International Trust Investment Company, head of the investment research section of the Securities Department, deputy manager of the Securities Department, deputy secretary of the party committee, secretary of the discipline inspection commission, deputy general manager, and chairman of Haizheng Futures Co., Ltd. at Shanghai Securities Co., Ltd., general manager of the financial management headquarters of Shanghai International Group Co., Ltd., general manager, party secretary, vice chairman, and chairman of Shanghai Securities Co., Ltd., chairman and CEO of Guotai Junan Securities Asset Management Co., Ltd., vice president and party committee member of Guotai Junan Securities Co., Ltd., concurrently serving as president of the asset management business committee, chairman of Guotai Junan Capital Management Co., Ltd., chairman and general manager of Guotai Junan Innovation Investment Co., Ltd., chairman of the executive committee, and president of the wealth management business committee.

Since April 2023, he has served as vice president of Sheneng (Group) Co., Ltd., and since September 2023, he has served as the party secretary of Dongfang Securities. He has been an executive director of Dongfang Securities since October 2023 and will serve as chairman of Dongfang Securities starting in November 2024.

Leading the Formulation and Implementation of Dongfang Securities' 2025-2027 Strategic Plan

Dongfang Securities stated that Gong Dexiong has served as the party secretary, executive director, and chairman of the company since September 2023, always adhering to the original intention of serving the country through finance and practicing the mission of finance for the people. He proposed a "three-step" medium- and long-term strategic roadmap around the vision of building a first-class modern investment bank with domestic competitiveness and international influence, leading the formulation and implementation of the company's 2025-2027 strategic plan Gong Dexiong insists on and strengthens the Party's comprehensive leadership, adheres to the comprehensive deepening of reforms, focuses on the strategic direction of "digitalization, groupization, and internationalization," and concentrates on the two key areas of large wealth and large investment banking. He promotes the company's development of three core capability pillars: comprehensive customer management, digital technology-driven operations, and endogenous compliance and risk control. He aims to create four core advantages: buy-side investment advisory, industrial investment banking, institutional finance, and digital technology, while deepening the five collaborative developments between energy and finance, wealth and asset management, investment banking and investment, licenses and clients, and domestic and overseas operations, thereby promoting the company to steadily and successfully pursue a differentiated and specialized development path.

During his tenure, Gong Dexiong has diligently fulfilled his duties, worked hard, taken responsibility, and innovated reforms. He has united and led all company staff, strengthened the foundation, improved quality and efficiency, and steadily enhanced the company's operational performance and industry position. The company's board of directors expresses heartfelt gratitude for Gong Dexiong's outstanding contributions to the company's development.

As of the end of the third quarter of 2025, Dongfang Securities has total assets of 453.94 billion yuan, an increase of 8.67% compared to the end of the previous year.

In the first three quarters of 2025, Dongfang Securities reported operating income of 12.708 billion yuan, a year-on-year increase of 39.38%; net profit attributable to shareholders was 5.110 billion yuan, a year-on-year increase of 54.76%. The significant growth in performance is attributed to increased revenues from proprietary investments, wealth management, and investment banking.

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