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An intern drove a Porsche to work, posted a video leaking IPO materials, and was urgently fired by CITIC Construction Investment

Before Wu Qing, chairman of the China Securities Regulatory Commission, had finished his words calling for the purification of life circles and friend circles outside of the “eight-hour work”, a top brokerage firm had compliance issues within the “eight hours”.

Recently, CITIC Construction Investment Securities, which ranks among the top three securities companies, has triggered a new round of public opinion because of an intern who showed off his work in the investment banking department. The intern not only acted in a high-profile manner, recording in a short video that he drove a Beijing-branded Porsche sports car to and from get off work, but also put all the IPO projects that CITIC Construction Investment is working on, including customer information and regulatory confirmation letters, in the short video, highlighting CITIC Construction Investment's compliance and risk control negligence.

According to the video released by the intern, there are three client information of CITIC Construction Investment, including "HaiRou Innovation Project", "WangYuan Technology Pioneer Project" and "GuoNeng Information Control Technology Co., Ltd." Among them, WangYuan Technology and GuoNeng Information Control are both IPO companies sponsored by CITIC Construction Investment and are in the critical stage of listing.

It is understood that after the public opinion storm fermented, CITIC Construction Investment has held an emergency meeting to dismiss the intern. A person close to CITIC Construction Investment said that the intern was a student of the School of Physical Education of Huazhong University of Science and Technology. At the just-concluded 2024 Asian University Wushu Championships, he also won the gold medal in men's traditional boxing and the silver medal in traditional single-weapon southern sword.

On the afternoon of July 26, CITIC Securities made an official response to this, saying that "the content of the video involves sensitive information of our customers and violates our compliance management regulations. At present, our company has ordered the student to terminate his study and has initiated accountability procedures against the relevant responsible persons in accordance with relevant company regulations." CITIC Securities stated that the company will learn from this incident, further strengthen internal management, and strictly enforce discipline requirements.

However, why are athletes able to intern in CITIC Construction Investment's investment banking business, which has high academic requirements? CITIC Construction Investment has not yet given a corresponding answer.