The director of the research institute is accused of sexually harassing subordinates; Cinda Securities responds.

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The Paper reporter Tian Zhongfang

CITIC Securities Co., Ltd. (abbreviated as “CITIC Securities,” 601059) responded to allegations that the director of the company’s research institute sexually harassed a subordinate.

On March 25, in response to messages circulating online that the director of CITIC Securities’ research institute and Chief Energy Analyst Zuo Qianming was reported by a subordinate and accused of sexual harassment, a relevant person in charge at CITIC Securities told a reporter from The Paper: “The company has already become aware of the situation circulating online. At present, it has suspended all work by Zuo Qianming and initiated an internal review, and will actively cooperate with the relevant work of the public security authorities.”

Public information shows that Zuo Qianming, a PhD, graduated from China University of Mining and Technology (Beijing). He previously served as the deputy director (in charge of work) of the Industry Consulting Department of the China Coal Industry Association, and has been engaged in research and consulting in coal and energy-related fields for more than 10 years. He joined CITIC Securities in 2016, and since 2019 has been responsible for research in the large-energy sector, leading his team to win numerous awards in the research field. In July 2025, Zuo Qianming was appointed as the director of CITIC Securities’ research institute.

Information on the official website of the CSRC Practitioners Association shows that Zuo Qianming’s practice registration institution is CITIC Securities, and the registration category is general securities business. On July 30, 2018, Zuo Qianming’s registration category at CITIC Securities was changed to securities investment consulting (analyst). As of the time this release was issued, Zuo Qianming’s registration status at CITIC Securities is still shown as normal.

According to information on its official website, CITIC Securities is the first domestic securities company affiliated with an AMC in China, established in September 2007. Its headquarters is located in Beijing. It is a securities company approved by the China Securities Regulatory Commission, established with China Cinda Asset Management Co., Ltd. (now named China Cinda Asset Management Co., Ltd.) as the main initiator, and jointly with China Oceanic Trust Investment Co., Ltd. (now named China Oceanic Trust Co., Ltd.) and China National Materials Industry Group Co., Ltd. (now named China National Materials Group Co., Ltd.). It was formed based on inheriting the investment banking business of China Cinda Asset Management Co., Ltd. and the securities-asset bases resulting from the acquisition of securities companies in Liaoning Province and Hantai Securities Co., Ltd., among other related securities assets.

CITIC Securities has set up more than 100 branches across multiple provinces, autonomous regions, and municipalities nationwide. It has 5 subsidiaries in Mainland China and Hong Kong. On February 1, 2023, the company was listed for trading on the Shanghai Stock Exchange.

As for performance, for the first three quarters of 2025, CITIC Securities’ operating revenue was 3.019 billion yuan, a year-on-year increase of 28.46%; net profit attributable to shareholders of the listed company was 1.354 billion yuan, a year-on-year increase of 52.89%.

As of before the reporter released this story, CITIC Securities’ latest share price was 16.68 yuan per share, up 1.09%.

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