Sou Hu Cai Jing·2025-10-22 08:46Core Viewpoint - The article discusses the compliance and governance issues faced by Everbright Securities, highlighting its repeated violations in information security management and internal controls, which have led to regulatory warnings and a stagnant ESG rating. Group 1: Compliance and Governance Issues - Everbright Securities' applications were named by the Shanghai Municipal Communications Administration for non-compliance in personal information processing, marking the second public information security management violation in six months [2][3] - The company has been warned multiple times by regulatory bodies regarding its internal control weaknesses, with specific incidents involving improper management of marketing tasks and compliance failures in various branches [6][7] - The company's internal control system has not effectively constrained misconduct among employees, leading to repeated violations and regulatory actions [4][6] Group 2: ESG Rating and Performance - Everbright Securities maintains a B rating in the MSCI ESG rating system, indicating a lack of progress since its decline to this level in early 2023 [4][5] - The company is categorized in the "lagging camp" of ESG performance, reflecting its insufficient capability to address sustainability-related risks compared to industry peers [5] - Among 36 listed brokerages in the MSCI ESG rating pool, Everbright Securities is one of 13 firms in the "lagging level," with significant gaps in governance, corporate behavior, and data privacy security compared to leading firms [5] Group 3: Financial Performance - For the first half of 2025, Everbright Securities reported operating revenue of 5.12 billion yuan, a year-on-year increase of 22%, ranking 17th among domestic listed brokerages, a drop of one position from the previous year [10] - The net profit attributable to the parent company was 1.68 billion yuan, reflecting a year-on-year growth of 21% [10] - The brokerage business revenue reached 1.70 billion yuan, up 36.9%, while investment banking revenue declined by 15.6% to 360 million yuan [10]