Everbright Securities Announces MPS Arbitration Results Sun Company Pays Principal 5.500 million yuan

Everbright Securities Announces MPS Arbitration Results Sun Company Pays Principal 5.500 million yuan
According to the latest announcement of Everbright Securities, the subordinate Sun Company Everbright Baptist Investment Management (Shanghai) Co., Ltd. (hereinafter referred to as “Bright Baptist”) stepped on the arbitration result of the MPS incident of Lei Overseas Investment.Together with the announcement issued by China Everbright Securities at the beginning of the month, as of now, China Everbright Jinhui and other respondents have to pay the total investment principal of the applicant 5.500 million yuan and corresponding expected income, attorney fees, arbitration fees, etc.According to Everbright Securities, based on the principle of prudence, the company has accrued the corresponding estimated liabilities in 2019. At present, the company’s operation and management are all normal, the financial situation is stable, and the liquidity is sufficient.At the beginning of this year, China Everbright Securities issued the “Announcement on Provision for Estimated Liabilities and Asset Impairment Provisions”. In the second half of 2019, the company accrued a total of RMB 16.4.4 billion yuan, reducing total profit in 2019 by RMB 16.4.4 billion yuan, a net profit reduction of RMB 13.300 million yuan.Among them, what is the estimated liability for the MPS event?13.0148?100 million yuan.According to the data, in 2016, China Everbright Securities Sun Company, China Everbright Investment Management (Shanghai) Co., Ltd., established a Baptist Fund for the wholly-owned subsidiary of China Everbright Securities, a subsidiary of China Everbright Capital, in conjunction with Storm Group Co., Ltd., which subsequently acquiredOverseas MP & Silva Holding S.A.(“MPS”) 65% equity of the company.Later, the operation of the MPS company was in trouble, and the Baptist Fund failed to quit as originally planned, which made the fund face greater risks.Thereafter, the stakeholders of the two priority partners of the Baptist Fund each presented a “Completion Letter of Difference” stamped by China Everbright Capital. The main content is that when the priority partner cannot withdraw, China Everbright Capital shall bear the correspondingThe difference makes up the obligation.As of the expiry date of the Baptist Fund, the above two priority partners paid out a total of approximately 3.5 billion yuan in capital dividends.Ever since the overseas investment stepped on the mine, Everbright Securities has experienced a series of personnel changes.On April 28, 2019, Everbright Securities announced that the original chairman Xue Feng submitted his resignation and no longer served as the company’s chairman.Subsequently, on August 1, the company’s board of directors received Wang Yong’s resignation, and he no longer held the position of chief risk officer of the company. However, among the reasons for leaving, Everbright Securities said that Wang Yong resigned for “personal career development reasons”.On October 7, Zhou Jiannan, the former CEO of the company, resigned. Due to personal career development, he applied to resign from the position of CEO of the company and confirmed that he has no disagreement with the company’s board of directors and no other matters need to be notified to shareholders due to his resignation.After Xue Feng resigned, Everbright Securities once publicly recruited presidents worldwide. On January 16 this year, Everbright Securities issued an announcement to nominate executive directors and appoint presidents.According to the announcement, the board of directors agreed to appoint Liu Qiuming as the company’s president, and the appointment of the president will be effective from the date the board of directors approves and obtains the relevant qualifications for the securities company.Judging from the company’s disclosed announcement, at present, the executive team of China Everbright Securities is gradually rebuilding.On December 31, 2019, China Everbright Securities announced that it has appointed Zhu Qin, the company’s board secretary, as the company’s vice president, compliance director, and chief risk officer.In addition, Zhu Qin also served as a securities affairs representative.With the gradual change of the management team, the data of China Everbright Securities’ annual report last year also increased significantly.According to Everbright Securities’ 2019 annual report, the company achieved a cumulative operating income of 100.5.7 billion yuan, an increase of 30.41%; net profit attributable to shareholders of the parent company 5.6.8 billion yuan, an increase of 449.68%.The investment banking business and brokerage business were the main thrusts of the substantial growth of China Everbright Securities’ performance last year.In 2019, the institutional securities business (including investment banking business) segment achieved revenue of 3.7 billion yuan, accounting for 37%; the brokerage business segment achieved revenue of 2.4 billion yuan, accounting for 24%; and the Liangrong business segment achieved revenue of 1.3 billion yuan, accounting for13%; the asset management business segment achieved revenue of 900 million yuan, accounting for 9%; the overseas business segment achieved revenue of 800 million yuan, accounting for 8%.Sauna, Yewang Zhang Siyuan editor Wang Jinyu proofreading Jia Ning