Everbright Securities Subsidiary Fund's Foreign Lawsuit Results Announced

Everbright Securities’ MPS overseas litigation outcome has been released.

Overseas litigation outcome released

On April 2, Everbright Securities issued an announcement titled “Progress on Matters Concerning Subsidiaries,” which indicates that the company previously disclosed the litigation involving the overseas project transaction subject of JINXIN INC. (Cayman Jinxin Fund) and the former seller shareholders of the MPS company—individuals and institutions including RICCARDO SILVA, ANDREA RADRIZZANI, and others.

Recently, Cayman Jinxin Fund received the judgment. The High Court of Justice in England and Wales ruled to dismiss all claims asserted by Cayman Jinxin Fund, including the claims alleging that the defendants RICCARDO SILVA and its special purpose entity RICCARDO SILVA HOLDING DESIGNATED ACTIVITY COMPANY, as well as MARCO AULETTA, committed fraudulent misrepresentations.

It is understood that the MPS overseas project has experienced years of setbacks. With the release of this overseas litigation outcome, it finally signals that the MPS overseas turmoil is coming to an end. The announcement shows that the above-mentioned judgment results are expected not to have a material impact on the company’s overall operating performance during the current period and after.

Public information indicates that the MPS project refers to the “blow-up” incident involving the acquisition project of MP&Silva, a UK sports media company, in 2016. In 2020, the Shanghai Financial Court ruled that Everbright Capital would pay a total of 35.16 billion yuan to two banks, including 31.16 billion yuan to China Merchants Bank and 4.0 billion yuan to Huarui Bank.

Previously, Everbright Securities, based on the principle of prudence, estimated potential losses and made cumulative provisions for expected liabilities. In 2023, it reached a settlement with two domestic banks, reversed part of the expected liabilities, and increased non-recurring income. After the completion of the overseas legal procedures this time, the risk has basically been cleared, and the MPS project has no longer had a material impact on its current operating performance and future development.

Some industry insiders analyze that now, Everbright Securities is getting back to full strength, closely aligning with the requirements of the “15th Five-Year Plan,” focusing on the development of its core business, and laying a solid foundation for the company’s long-term and steady growth.

Revenue in 2025 exceeded 100 billion yuan

Taking advantage of the favorable tailwinds from the capital markets, Everbright Securities’ performance in recent years has been fairly solid. On March 26, the company disclosed its 2025 annual report. Total assets, net assets, operating revenue, and net profit attributable to the parent company all increased steadily. For the full year, it achieved operating revenue of 10.852 billion yuan, up 13%; and net profit attributable to the parent company of 3.724 billion yuan, up 22%.

At the performance briefing held on March 27, Zhao Ling, Chairman of Everbright Securities, said that in 2025, Everbright Securities has anchored its strategic goal of “building a first-class service-oriented investment bank in China.” It insists on making the service to the real economy both the starting point and the destination of its work. In 2025, the financing scale serving the real economy reached 95.9 billion yuan, up 10%, setting a historical high.

In addition, Everbright Securities has continued to advance the construction of Financial “Five Major Articles.” For example, in terms of technology finance, it supported underwriting and financing for technology-industry projects with an underwriting and financing scale of 29.42 billion yuan, up 43.8% year over year. In terms of green finance, it supported underwriting and financing for green-industry projects with an underwriting and financing scale of 180.9 million yuan, up 99.9% year over year. In terms of pension finance, it continued to increase the supply of pension-finance products, persistently promoted the aging-friendly renovation of the service system, added 54 newly listed individual pension fund products, and increased the number of newly opened accounts for personal pension fund trading accounts by 11,000.

According to Liu Qiuming, President of Everbright Securities, the company’s business clusters are developing in a balanced manner. In wealth management, total customer assets exceed 1.6 trillion yuan, reaching a new high in nearly 5 years. In corporate financing, it focuses on the function of the primary channel for direct financing. The proportion of equity investment banking services for “specialized, refined, distinctive, and innovative” enterprise customers is approximately 50%. In debt financing, multiple deals have been completed, with representative projects that have market influence. In financial innovation, it focuses on enhancing trading capability and risk-hedging capability, accelerates the advancement of Hong Kong derivatives business, and expands points of profit growth.

Everbright Securities states that it will firmly and unswervingly serve national strategies, the real economy, and people’s livelihoods; focus on its primary responsibilities and main business; serve Financial “Five Major Articles”; and, with a functional orientation first, professionalism as the foundation, and safety as the guarantee, achieve high-quality development of the company and help build Chinese-style modernization.

(Editor: Xu Nannan)

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