Seven Brokerages Hidden in ChangXin Technology's Shareholder List: Why Is Huaan Securities the One That Stands Out?

Deep News10-20

Topic: 2026 Sustainable Global Leaders Conference & the Second Green Industry and Sustainable Consumption Expo.

During the 2026 Sustainable Global Leaders Conference, Zhao Wanli, General Manager of Huaan Securities Co.,Ltd. (SHA: 600909), raised a "valuation question" in his speech: "As a small and medium-sized brokerage rooted in Anhui, on what basis do we invest in a project like this?"

According to publicly available information, the shareholder list of Cxmt Corporation (SHA: 688825) brings together capital from seven listed brokerages. Major brokerages including China Merchants Securities, Huaan Securities, Guotai Haitong, and China Securities have already established deep positions through multi-layered capital structures.

The answer Zhao Wanli gave was a "choice between righteousness and profit": "The answer does not lie in any single decision, but in the choice between righteousness and profit behind it." He believes that when small and medium-sized brokerages invest in the areas the country needs most and dig deep into segmented tracks, doing "righteousness" thoroughly means "profit" will naturally have a foundation.

In a landscape where leading brokerages hold the advantage in capital strength, Huaan Securities Co.,Ltd. (SHA: 600909) gained a reassessment of its "technology content" in the market by taking an early heavy position in Cxmt Corporation (SHA: 688825), a target aligned with the "national strategic direction."

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