EBSCN(601788) 新浪财经·2025-03-31 12:51Core Viewpoint - The company faces significant challenges in 2025 despite the resolution of the "MPS" case, with pressure on core business operations, ongoing internal control issues, and a series of penalties for its branches since the beginning of the year [1][2]. Financial Performance - In 2024, the company's operating revenue was 9.598 billion yuan, a year-on-year decrease of 4.32%, while the net profit attributable to shareholders was 3.058 billion yuan, down 28.39% [1]. - The company reported a net income from investment banking of 0.823 billion yuan and asset management and fund management income of 0.79 billion yuan, both declining by over 20% [2]. - The company experienced a three-year consecutive decline in revenue from 2022 to 2024, with 2022 revenue at 10.78 billion yuan, down 35.48%, and 2023 revenue at 10.031 billion yuan, down 6.94% [3]. Legal and Compliance Issues - The company has faced multiple penalties in 2024, with a total of 8 fines issued to the company and its subsidiaries, highlighting significant management issues [3]. - In 2025, the company received 2 additional fines for violations related to stock trading and unauthorized solicitation activities [4]. - A former executive is set to have a court hearing regarding a lawsuit against the China Securities Regulatory Commission, which may further impact the company's reputation [4]. Management Changes - Frequent personnel changes have occurred at the executive level, particularly among those involved in the "MPS" case and the acquisition of New Hongji Financial, indicating instability in management [2].