Sou Hu Cai Jing·2025-10-22 09:05Core Viewpoint - The article discusses the compliance and governance issues faced by Everbright Securities, highlighting its repeated failures in information security management and internal controls, which have led to regulatory warnings and a low ESG rating. Group 1: Compliance and Governance Issues - Everbright Securities' applications were flagged by the Shanghai Municipal Communications Administration for non-compliance in personal information processing, marking the second such incident in six months [1][2] - The company has been criticized for inadequate user rights protection and information security governance, indicating significant room for improvement [2] - The company has faced multiple regulatory warnings regarding internal control deficiencies, with specific incidents involving marketing tasks assigned to non-marketing personnel and improper management of client interactions [5][6] Group 2: ESG Rating and Performance - Everbright Securities maintained a B rating in the MSCI ESG rating system, reflecting a lack of progress since its downgrade in early 2023 [3] - The company is categorized in the "lagging group" of the ESG rating system, indicating insufficient capability in managing sustainability-related risks [3] - Among 36 listed brokerages in the MSCI ESG rating pool, 13, including Everbright Securities, are classified as having "lagging" ESG performance [3] 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 [7] - The net profit attributable to shareholders was 1.68 billion yuan, reflecting a 21% year-on-year growth [7] - The brokerage business revenue increased by 36.9% to 1.7 billion yuan, while investment banking revenue declined by 15.6% to 360 million yuan [7]