Cinda Securities responds to the "Research Institute Director Zuo Qianming being publicly reported by female subordinate for harassment": His work has been suspended, and an internal investigation has been initiated.

According to a report by The Paper, Cinda Securities Co., Ltd. (abbreviated as “Cinda Securities,” 601059) responded to allegations that the head of its research institute sexually harassed a subordinate.

On March 25, in response to an online report alleging that the head of Cinda Securities’ research institute and its energy chief analyst, Zuo Qianming, was reported by a subordinate and accused of sexual harassment, a relevant person in charge at Cinda Securities told a reporter from The Paper: “The company has noticed the situation circulated online. At present, it has suspended all work by Zuo Qianming and launched an internal investigation. Meanwhile, it will actively cooperate with the relevant work of public security authorities.”

Publicly available information shows that Zuo Qianming, PhD, graduated from China University of Mining and Technology (Beijing). He previously served as deputy head of the industry consulting department of the China Coal Industry Association (in charge). He has been engaged for more than a decade in research and consulting in the fields related to coal and energy. He joined Cinda Securities in 2016. Since 2019, he has been responsible for research on the large energy sector, leading his team to win many awards in the research field. In July 2025, Zuo Qianming was appointed as the head of the research institute of Cinda Securities.

According to information on the website of the CSRC practitioners association (CSRC Association), Zuo Qianming’s practice registration authority is registered as Cinda Securities, and his registration category is general securities business. On July 30, 2018, Zuo Qianming’s registration category at Cinda Securities was changed to securities investment consulting (analyst). As of the time of this release, Zuo Qianming’s registration status at Cinda Securities still shows as normal.

According to information on the company’s official website, Cinda Securities is the first domestic securities firm in China in the AMC (asset management company) system, established in September 2007. Its headquarters is in Beijing. It is a securities company approved by the China Securities Regulatory Commission, established with China Cinda Asset Management Co., Ltd. (now China Cinda Asset Management Co., Ltd.) as the primary initiator, and in conjunction with China Haicheng Trust Investment Co., Ltd. (now China Haicheng Trust Co., Ltd.) and China National Materials Industry Investment Group Co., Ltd. (now China National Materials Group Co., Ltd.). It was formed based on the continuation of China Cinda Asset Management Co., Ltd.’s investment banking business, as well as the acquisition of securities firms in Liaoning Province, such as those of Liaoning securities firms and the HanTang Securities Co., Ltd.

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

In terms of performance, in the first three quarters of 2025, Cinda Securities’ operating revenue was RMB 3.02B, up 28.46% year over year. Net profit attributable to shareholders of listed companies was RMB 1.35B, up 52.89% year over year.

As of the time this reporter released the story, Cinda Securities’ latest share price was RMB 16.68 per share, up 1.09%.

Previously, according to a report by Xinhuanghe, the complainant claimed to be Tang Chanyu. She joined Cinda Securities’ research institute in 2023 and is now a researcher. In her letter, she detailed her experience on the evening of March 24: Zuo Qianming asked her to go along to Shanghai for an off-site trip and meeting attendance. After a dinner gathering that night ended, he then groped her in the car on the way back to the hotel where she was staying. First, he touched her hand, saying, “You look very nervous—relax.” Then he reached toward her intimate area. Tang Chanyu pushed him away twice. He repeated, twice, “Relax,” and then reached his hand out again.

After they arrived at the hotel, in front of many people, Zuo Qianming pulled her aside and demanded, “Go back to my room.” After she refused, he forcibly grabbed her waist and shoved her into the back seat of a taxi parked outside the hotel. Tang Chanyu struggled desperately in the car and shouted for help. Zuo Qianming tried to calm her down by saying, “It’ll be fine after one injection,” which made her even more panicked.

The turning point came at the entrance of a holiday hotel—an on-duty security guard intervened in time, controlling Zuo Qianming from behind. Tang Chanyu took the opportunity to escape, ran into a nearby hot pot restaurant with many people, and asked the staff to take her to a safe place. After that, she reported the incident to the police and learned from the police that Zuo Qianming had been controlled with the assistance of the security guard.

In the closing part of her complaint letter, Tang Chanyu wrote that before the incident she had always believed that Zuo Qianming was “a leader with high moral standing, honest conduct, and who cares about subordinates,” and that was also the reason why this matter dealt such a heavy blow to her. She stated frankly that she is a young employee who joined Cinda Securities in 2023 upon graduation. By choosing to speak out publicly, she said it was to protect her rights and interests, and also to prevent the same thing from happening to others again.

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