V Guan Finance Report ｜ China Merchants Securities was filed!Just being warned, the executives have changed frequently

Zhongxin Jingwei, August 12th. The CISC has been put into case by the CSRC, involving the independent financial advisory business work in 2014.

Involved in independent financial advisory business work in 2014

On the evening of the 12th, China Merchants Securities announced that it received the "Notice of File C case" by the China Securities Regulatory Commission (No. 0382022020). In 2014, the company did not diligently perform diligence during the work of Shanghai Feile Co., Ltd. (now Zhong'anke Co., Ltd.) independent financial advisory business. It was suspected of violations of laws and regulations.

Source: China Merchants Securities Announcement

It is worth mentioning that China Merchants Securities has been warned recently. On August 9, the website of the Shenzhen Securities Regulatory Bureau announced the decision of administrative supervision measures and decided to issue a warning letter to China Merchants Securities.

The Shenzhen Securities Regulatory Bureau stated that in the process of investment banking business, China Merchants Securities has the following problems:

First, in the sponsor business, individual projects have not sufficient due diligence to the issuer's income, core technology, and R & D expenses.

The second is that in the bond underwriting business, individual projects have inadequate due diligence to the issuer's debt situation, external guarantee, debt repayment, related transactions, major arbitration, litigation and other major matters and other major matters.

Third, in the asset securitization business, individual projects are not sufficient to perform due diligence in the credit level of primitive rights and custodians; due diligence reports that do not include due diligence investigations on important debtors; Insufficient, no major matters involving basic asset cash flow were found and temporarily announced.

Frequently changes in executives

According to the data, China Merchants Securities is a securities company under the China Merchants Group. In 2009, it landed on the Shanghai City Main Board and listed on the Hong Kong Stock Exchange in 2016. Since last year, China Merchants Securities executives have changed frequently.

On the evening of July 4, China Merchants Securities announced, and Vice President Li Zongjun applied to resign from the position of vice president of the company due to age. The 2021 annual report shows that Li Zongjun was 56 years old.

On the evening of May 13, China Merchants Securities disclosed that Zhang Qing, vice president, submitted his resignation due to personal physical reasons. At the same time, Zhang Haochuan was appointed as the vice president. On the same day, Director Wang Daxiong submitted a written resignation report and applied for resignation due to the reasons for retirement.

On October 8, 2021, China Merchants Securities announced that Xiong Jiantao applied for resignation of all positions such as the company's executive directors, presidents, and chief information officers for deciding to focus on other personal affairs.

In addition, on December 23, 2021, Vice President Wu Guangyan applied for resignation of vice president due to personal reasons. On November 3 of the same year, Deng Xiaoli, vice president, applied for resignation to resign the position of vice president due to age. On May 21 of the same year, Xie Jijun, vice president, applied for resignation to resign the position of vice president for personal reasons.

The executive changes and the performance was also affected. The first quarterly report showed that China Merchants Securities achieved operating income of 3.696 billion yuan, a year -on -year decrease of 38.01%; net profit of home mother was 1.490 billion yuan, a year -on -year decrease of 42.99%. (Zhongxin Jingwei APP)

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