On May 16, some investors reported that China Merchants Securities Co.Ltd(600999) app could not log in. On that day, China Merchants Securities Co.Ltd(600999) confirmed the failure of the trading system through microblogging, and said to return to normal and apologize. This is the second time that China Merchants Securities Co.Ltd(600999) app failed in nearly two monthsP align = “center” figure: China Merchants Securities Co.Ltd(600999) may 16 trading system fault apology p align = “center” style = “text align: Center;” Data source: China Merchants Securities Co.Ltd(600999) Weibo No
Two months ago, on March 14, 2022, some netizens reported on the social platform that the China Merchants Securities Co.Ltd(600999) trading system failed, including problems such as unable to conclude a transaction and unable to withdraw the transaction. At that time, the failure of China Merchants Securities Co.Ltd(600999) trading system was once hot searched.
After the above events, Shenzhen Securities Regulatory Bureau issued the regulatory measures on ordering China Merchants Securities Co.Ltd(600999) to make corrections on April 2, which made it clear that China Merchants Securities Co.Ltd(600999) had some problems in the network security incident on March 14, 2022, such as imperfect change management, untimely and inadequate emergency response.
Meanwhile, Shenzhen Securities Regulatory Bureau required China Merchants Securities Co.Ltd(600999) to rectify the work related to the important information system, investigate the internal responsibility of the personnel responsible for the above events, and complete the rectification and reporting within three months.
The China Merchants Securities Co.Ltd(600999) , which is still in the rectification period, has app failure again, and the problems existing in its trading system can not be ignored.
China Merchants Securities Co.Ltd(600999) 2021 annual report shows that in 2021, the investment in information technology was about 1.192 billion yuan, accounting for 6.32% of the parent company’s operating revenue in 2020. In 2021, the business digital transformation and digital core capability construction achieved remarkable results, and the monthly activity ranking of APP rose to the top 5 of large securities companies.
Nowadays, financial technology has increasingly become one of the important competitiveness of securities companies. Under the market environment in which peers have increased investment to realize the competition of customer experience, China Merchants Securities Co.Ltd(600999) large numbers of small and medium-sized customers may face the loss of “real money” again due to the problems of trading system.
In addition, China Merchants Securities Co.Ltd(600999) while the trading system failures occur frequently, the management layer has also been turbulent in recent years.
On May 13, 2022, China Merchants Securities Co.Ltd(600999) announced the resignation of vice president Zhang Qing. According to public information, Zhang Qing has served as vice president for only one year and two months, mainly responsible for investment banking.
In 2021, four senior executives of China Merchants Securities Co.Ltd(600999) including the president resigned respectively, and three Vice Presidents were responsible for China Merchants Securities Co.Ltd(600999) asset management, risk control, investment banking and other core businesses and workp align=”center” style=”text-align:center;”> Table: China Merchants Securities Co.Ltd(600999) 2021 changes of directors, senior managers and supervisors p align = “center” style = “text align: Center;” Data source: China Merchants Securities Co.Ltd(600999) 2021 Annual Report
On October 7, 2021, China Merchants Securities Co.Ltd(600999) executive director, President and chief information officer Xiong Jiantao resigned. According to public information, in December 2018, Xiong Jiantao became China Merchants Securities Co.Ltd(600999) president through competition, and his term of office expires on November 23, 2021. It is strange that Xiong Jiantao resigned less than one month from the expiration date of his post.
On December 23, 2021, China Merchants Securities Co.Ltd(600999) announced the resignation of Wu Guangyan, vice president. Wu Guangyan has served as the assistant to the president of China Merchants Securities Co.Ltd(600999) since July 2018, the chairman of China Merchants Securities Co.Ltd(600999) International Co., Ltd., the general manager of China Merchants Securities Co.Ltd(600999) Asset Management Co., Ltd. and the general manager of international business department since February 2019, and the vice president of China Merchants Securities Co.Ltd(600999) since February 2019.
Deng Xiaoli, vice president of China Merchants Securities Co.Ltd(600999) resigned on November 2, 2021. Deng Xiaoli has been the vice president of China Merchants Securities Co.Ltd(600999) since November 2005 and the chief risk officer of China Merchants Securities Co.Ltd(600999) since August 2014. The resignation announcement shows that the reason for his resignation is age, but the data shows that Deng Xiaoli was born in 1967 and was 54 years old when he resigned.
Xie Jijun, vice president of China Merchants Securities Co.Ltd(600999) resigned on May 21, 2021. Xie Jijun has been the managing director and general manager of the headquarters of China Merchants Securities Co.Ltd(600999) investment bank since April 2008 and the vice president of China Merchants Securities Co.Ltd(600999) investment bank since March 2019.
It is worth noting that the salary of the management also declined significantly in China Merchants Securities Co.Ltd(600999) 2021. The average salary of senior executives decreased from 2512700 yuan in 2020 to 1583700 yuan in 2021, a decrease of nearly 40%. Among them, the salary of chairman Huoda decreased from 5.1796 million yuan in 2020 to 3.8841 million yuan in 2021, while the salary of former president Xiong Jiantao decreased significantly from 5.7198 million yuan in 2020 to 1.7108 million yuan.
With regard to the above trading system failure and management turbulence, china.com finance sent a letter to interview China Merchants Securities Co.Ltd(600999) . As of press time, the company has not replied.
