China Merchants Securities Co., Ltd. (CMSC) announced that its fourth employee representatives’ meeting elected Mr. Xiong Zhigang as the employee representative director for the company’s eighth Board of Directors, effective 23 September 2026 and lasting for the duration of the eighth Board’s mandate.
Mr. Xiong, aged 49, currently serves as General Manager of CMSC’s Legal and Compliance Department (since December 2024) and Chief Compliance Officer at both China Merchants Zhiyuan Capital Investment Co., Ltd. and China Merchants Securities Investment Co., Ltd. (since August 2025). His prior roles include Vice-Chairman and Chief Compliance Officer of China Merchants Securities Asset Management Co., Ltd. (April 2022 – October 2024) and Employee Representative Supervisor of CMSC (May 2017 – October 2020).
Compensation terms specify that Mr. Xiong will receive no director’s emolument. His remuneration will be determined under CMSC’s remuneration management system, with the actual amount to be disclosed in the company’s annual report.
Through the China Merchants Securities No. 1 Employee Stock Ownership Scheme, Mr. Xiong holds approximately 100,011 A-shares, representing about 0.001 % of CMSC’s total issued share capital.
Corporate governance disclosure confirms that Mr. Xiong has no additional positions within CMSC or its subsidiaries beyond those stated, no relationships with other directors or major shareholders, and no interests subject to Hong Kong’s Securities and Futures Ordinance, apart from the shares noted above.
Following this appointment, the Board composition stands at: one executive director, six non-executive directors, five independent non-executive directors, and one employee representative director.
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