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recently, a senior employee of the institutional client headquarters of the domestic securities giant shenwan hongyuan securities has been flooding social media with a series of remarks in the work group questioning the assessment results and blasting several department leaders. it is understood that the institutional client headquarters is a business department of shenwan hongyuan securities, responsible for coordinating and connecting with institutional clients in multiple business lines of the company.

on the afternoon of september 4, the reporter contacted the employee himself. he told the reporter that the remarks in these work groups happened a long time ago and he didn't know why they were only exposed recently.

as the fuse of this "bombardment", the performance evaluation results are related to employee compensation. coincidentally, in the past two years, there have been "payroll appeals" signed by ordinary employees of shenwan hongyuan that have been widely circulated. in recent years, there have been many short essays that have triggered public opinion among employees in the securities industry, but it is relatively rare in the industry that the same securities company has had public opinion fermenting about compensation issues in recent years.

as of the close of september 4, shenwan hongyuan’s share price closed at 4.3 yuan, with a total market value of 107.7 billion yuan.

old employees of shenwan hongyuan in the wechat group

"bombarding" several department leaders

recently, zuo xiaopeng, an employee of shenwan hongyuan institutional client headquarters, questioned the assessment results and "blasted" several department leaders in a work group, with a series of remarks that went viral on social media.

according to zuo xiaopeng, he is an old employee of shenwan. "i was converted to a regular employee at the research institute in august 2000, and was transferred to the institutional department of the head office at the end of 2016." according to information disclosed by the securities association of china, the person's current professional registration information is indeed with shenwan hongyuan, and he has been transferred to the head office of shenwan hongyuan since the end of 2016.

the results of a departmental assessment apparently aroused his strong dissatisfaction, and he made relevant remarks in the department work group.

according to screenshots of the relevant group chat, the above remarks were first posted at 4 a.m. one day, and continued to be posted in the following hours until after 9 a.m. in the work group of more than 100 people, someone explained the assessment results to zuo xiaopeng, "teacher zuo, i explained to you last friday that the assessment a or b is completely based on the completion of objective performance indicators." however, zuo xiaopeng said he did not accept the explanation and asked to show the performance to see what was going on.

it is worth noting that while questioning the assessment results, the above-mentioned employees also attacked several department leaders, such as wang huijing, pan yeming and others, directly pointed out the issue of bonus distribution, and claimed that they would report it under their real names.

image source: screenshot of online chat

public information shows that in early july last year, shenwan hongyuan securities disclosed the "announcement on the change of person in charge of shenwan hongyuan securities custody center", stating that wang huijing, general manager of shenwan hongyuan securities custody center, resigned on july 5 due to work arrangements and was transferred to the general manager of the company's institutional client headquarters. according to the above-mentioned employee, pan yeming is the head of the north china innovation team.

a person from shenwan hongyuan told reporters that the institutional client headquarters is the company's business department, responsible for coordinating and connecting institutional clients with the company's investment banking, investment trading, wealth management, sell-side research and other business lines. according to the annual report of shenwan hongyuan, the institutional client headquarters is a first-level department under the shenwan hongyuan securities executive committee.

regarding the employee's questioning of the assessment results, a relevant person in charge of a brokerage branch told reporters that each line of the brokerage has its own business department, and each business department has its own performance assessment. however, in her opinion, if there are some excessive situations, it is normal for employees to "go crazy" like this.

in addition, after reading the above remarks, an analyst from a securities firm speculated that the business mentioned by the above employee might not be the sell-side research business of traditional institutional sales. "he mentioned 'one business', but we don't talk about 'one business' when we talk about performance. this is more like a project system. and the 'north china innovation team' seems to be related to the primary market."

regarding the series of comments in the above work group, a person from shenwan hongyuan told reporters after reading it, "this is obviously radical and untrue." on the afternoon of the 4th, the reporter contacted zuo xiaopeng himself, who told reporters that the comments in the above wechat group were made a long time ago, and he didn't know why they were only exposed recently.

trapped many timespublic opinion storm about asking for salary

last year's year-end bonus was not reduced

as the fuse of the above-mentioned "bombardment", the results of performance appraisals are usually related to employee remuneration. in recent years, the remuneration of securities companies has been a hot topic in the market. according to choice data statistics, since 2021, the total employee remuneration of shenwan hongyuan has ranked in the middle of a+h securities companies. since most a+h securities companies are the top securities companies in the industry, from the perspective of the entire industry, shenwan hongyuan's remuneration scale ranks among the top in the industry, with a total remuneration of 7.7251 billion yuan last year. from the perspective of per capita employee remuneration, shenwan hongyuan ranked 9th, 4th, and 4th among all more than 40 listed securities companies from 2021 to 2023.

although shenwan hongyuan's performance has fluctuated greatly since 2022, the changes in the company's employee salaries during the same period have been relatively stable. for example,although the company's net profit fell sharply by 43% year-on-year in the first half of this year, employee salaries only fell by 15.6%.。

through the above horizontal comparison, it can be seen that shenwan hongyuan's "salary situation" is actually not bad in the industry. however, it seems that there are always employees who are dissatisfied with it. in recent years, many short essays written by shenwan hongyuan employees asking for salary are still fresh in people's memory.

in may 2022, a sender claiming to be an ordinary employee of shenwan hongyuan said in an email that it is now mid-2022, but the 2021 year-end bonus has not been issued yet. in view of the heavy financial pressure on the family, he pleaded with the company to speed up the issuance of the 2021 year-end bonus. however, at that time, many shenwan hongyuan employees told reporters that it was normal that the year-end bonus had not been issued in may, and the company's year-end bonus was generally issued in june and july.

coincidentally, almost exactly one year later, another year-end bonus and salary request letter suspected to be written by a shenwan hongyuan employee went viral on the internet. it is worth mentioning that this salary request letter was written in classical chinese, which attracted more attention than the previous one. at that time, a shenwan hongyuan staff member told reporters, "the company has never defaulted on year-end bonuses. we paid it in july last year and the year before last."

he also gave reporters a detailed introduction to the company's year-end bonus distribution process. "the bonus packages are distributed layer by layer and are linked to performance appraisals. cic first issues a total bonus package to our company, and then the company can distribute it. once the bonus package reaches each department, each department can then distribute it."

however, he also admitted that the company's year-end bonus distribution process is indeed relatively long. "every distribution must be able to withstand scrutiny. companies of our type have various inspections and audits, so the bonus distribution process is relatively long."

an insider told reporters:in the context of industry salary cuts, shenwan hongyuan's year-end bonuses did not decrease last year.。

in the view of industry insiders, although shenwan hongyuan may not have owed wages, the small essays about the company's employee salaries have fermented in recent years, which has affected the company's reputation to a certain extent. the "guidelines for reputation risk management of securities companies" issued by the securities association in 2021 requires securities companies to establish and continuously improve reputation risk management systems and mechanisms, fully consider reputation risks in various areas of business management such as strategic planning, corporate governance, business operations, information disclosure, and staff behavior management, and implement full-process management of reputation risks from identification, assessment, control, monitoring, response, and reporting. it also requires securities companies to establish a reputation constraint and evaluation mechanism for staff, and strengthen reputation risk management for staff from the aspects of system construction, control departments, and personnel management.

on the 4th, the reporter also sent a formal interview letter to shenwan hongyuan regarding whether the company's institutional client department's assessment of the above-mentioned employees was fair and just. however, as of press time, no response has been received from the other party.