Shanxi Securities and Datong Securities are two independent securities companies, and there is no direct relationship between them. Shanxi Securities, founded in 1988, is a state-controlled securities company with a wide range of business, including wealth management, corporate finance, asset management and other fields. Datong Securities is another independent securities company, established in 1988, and its company name and registered capital have changed. Although both companies are securities companies in China, their history, business scope and corporate structure are independent, and there is no direct equity or business relationship.