On April 19, according to the first financial report, Everbright Securities Company Limited(601788) board of directors, board of supervisors and senior executives had a “personnel earthquake”, involving a total of six members of the company’s Party committee.
The reporter sought confirmation from insiders close to Everbright Securities Company Limited(601788) who confirmed the news and revealed that the new party secretary may be Zhao Ling, vice president and Secretary of China Everbright Bank Company Limited Co.Ltd(601818) .
chairman demoted Six Party committee members held accountable
It is understood that on the morning of the 19th, the Party committee of the group announced the relevant personnel changes.
Everbright Securities Company Limited(601788) current party secretary Yan Jun was removed from his post within the party and his rank was demoted to Deputy Department of Everbright Group. Relevant positions will be arranged separately Everbright Securities Company Limited(601788) “second in command” Liu Jiping, now the chief supervisor of the company, was detained in the party for one year, and his rank was demoted to deputy of Everbright Securities Company Limited(601788) department.
Liu Qiuming, the current president and executive director of the company, spoke with admonishment; Fan Hongbo, Secretary of the Discipline Inspection Commission of the company, was given a warning, while Wang Zhong and Mei Jian, vice presidents of the company, were criticized and educated.
According to informed sources, after Yan Jun was demoted, Liu Qiuming, the current president of the company, will temporarily perform the duties of chairman. The Secretary of the Party committee may be China Everbright Bank Company Limited Co.Ltd(601818) a vice president.
why the “blood exchange”
According to the first financial report, the above-mentioned personnel were held accountable mainly for violating the spirit of the eight provisions of the central government.
On February 22 this year, the feedback of the fifth inspection team of the Central Committee on the inspection of Everbright Group was announced. The feedback points out that some enterprises directly under Everbright Group violate the eight provisions of the central government, and the spiritual problems persist despite repeated prohibitions. The problems of formalism and bureaucracy are more prominent. There is a gap in preventing and resolving major risks and hidden dangers, and there are shortcomings in the internal governance system.
However, according to the reporter, this major change of blood is related to the decline of Everbright Securities Company Limited(601788) ‘s performance and the continuous departure of the business team.
On March 25, Everbright Securities Company Limited(601788) released the report card of 2021. The year-on-year growth of the company’s operating revenue and net profit after deduction of non profits were 5.3% and 9.67% respectively. Operating profit showed negative growth.
According to the analysis of the composition of operating revenue, the handling fee of Everbright Securities Company Limited(601788) investment banking business decreased by 200 million yuan year-on-year in 2021; The handling charges of asset management and fund management business decreased by 400 million yuan year-on-year, and the investment income, other income and income from changes in fair value decreased by 800 million yuan year-on-year.
In terms of business segments, the business change of investment and trading cluster is the most obvious, with a loss of 400 million yuan in 2021, a decrease of 122% over the same period of last year.
In this regard, Everbright Securities Company Limited(601788) said that the company’s equity proprietary investment business was mainly directional investment, but it failed to achieve the expected income due to the impact of the market decline. In the process of market fluctuation, fixed income self operated investment implements a stable investment strategy and obtains better investment income.
In addition, Everbright Securities Company Limited(601788) due to the MPS project of stepping on thunder, an estimated liability of 732 million yuan was accrued.
In May 2016, Everbright Securities Company Limited(601788) subsidiary Everbright capital and storm group led the establishment of Jinxin fund, which completed the acquisition of 65% equity of MPs, a British sports copyright company, with a transaction price of about 5.2 billion yuan. However, the subsequent MPs went bankrupt, and Jinxin fund failed to exit as planned. As it was agreed in the balance replenishment letter stamped by Everbright capital presented by the priority limited partner of Jinxin fund that “when the priority partner cannot exit, Everbright capital shall bear the corresponding balance replenishment obligation”, Everbright capital exposed a huge risk exposure. At present, the relevant bank accounts and a number of assets of Everbright Securities Company Limited(601788) and its subsidiaries have been frozen by the judiciary. Therefore, the annual report has accrued huge estimated liabilities for many consecutive years.
Previously, Xuefeng, former chairman of Everbright Securities Company Limited(601788) Everbright Securities Company Limited(601788) Du Xiongfei, general manager of debt financing headquarters and general manager of investment bank headquarters, also informed of the investigation on November 17, 2021.
The stock price of Everbright Securities Company Limited(601788) , which is deeply trapped in the vortex of public opinion, has also fallen all the way. Up to now, it has dropped from the high of about 31 yuan in July 2020 to around 12 yuan, and the total market value is only 51.3 billion yuan.
