The 21st Century Business Herald has exclusively learned that Guotai Haitong Securities issued an internal appointment and removal notice in early July, dismissing Lin Yong from his position as a senior researcher at the Policy and Industry Research Institute, a role at the middle management level. Lin Yong previously served as the CEO of Haitong International, with an annual salary that once exceeded 18 million yuan. He was later demoted after Haitong International suffered massive losses, and was only appointed as this senior researcher a year ago. Multiple independent sources have confirmed this news, and the company's internal system currently shows his position as 'other', with no new appointment announced yet. A person close to Guotai Haitong said that Lin Yong had been serving as a senior researcher for nearly a year while retaining his middle management rank, and this dismissal, though unexpected, is not surprising. The turning point in Lin Yong's career came in 2022, when Haitong International incurred huge losses of nearly 13 billion yuan over two years. He resigned as assistant to the general manager of Haitong Securities in 2023, and was removed from his positions as vice chairman of the board and CEO of Haitong International in 2024.
Guotai Junan Securities Co LtdThe article reports the dismissal of a former senior executive, indicating internal governance issues and potential regulatory scrutiny.