Shenwan Hong源 Securities Was Previously Called Out for "Difficult Account Cancellation" in Its Software—Does CIO Xie Chen Take It Seriously?

When it comes to stock trading, rely on Golden Kylin Analyst Reports—authoritative, professional, timely, comprehensive—helping you discover potential thematic opportunities!

Operator Financial Network News

On the occasion of International Consumer Rights Day on March 15, Operator Financial Network has summarized issues and phenomena related to consumer rights violations over the past year, promoting a fair and just consumer environment. Regarding the securities industry, Operator Financial Network has released the “2026 March 15 Securities Company Infringement of Right to Know and Decision-Making Rights List” and the “2026 March 15 Securities Platform Infringement of User Privacy List.” Shenwan Hongyuan Securities is listed on both.

First, the Shanghai Securities Regulatory Bureau disclosed last October that Shenwan Hongyuan Securities had issues such as “failing to disclose major matters that could affect investors’ interests within five days of the occurrence” when conducting business, and “failing to perform post-investment checks on certain private equity asset management products according to company regulations, and not diligently fulfilling their duties in private asset management.”

These behaviors violated relevant regulations and prompted the Shanghai Securities Regulatory Bureau to issue a warning letter as an administrative regulatory measure.

Additionally, in the APP (SDK) inspection report (Batch 10, 2025) released by the Shanghai Communications Administration, two software products under Shenwan Hongyuan Securities were prominently listed. They are “Shenwan Hongyuan Xiaomi App Store Version 1.3.81” and “Shenwan Hongyuan Securities Vivo App Store Version 6.0.6.” Both have issues with “difficulty in account cancellation,” which led to their being named.

However, before and after the penalties last year, Shenwan Hongyuan Securities did not publicly respond to these two penalties or the naming. On the same day it was named by the Shanghai Communications Administration, Shenwan Hongyuan Securities issued a risk alert titled “Beware of Illegal Activities by Impersonators Pretending to Be Shenwan Hongyuan Securities and Its Employees.”

The alert warned about individuals impersonating the company and employees to scam consumers, but did not mention the issues with the software being named. Currently, the company’s Chief Information Officer is Xie Chen, born in 1976, who has worked at SMIC Microelectronics (Shanghai), the Shanghai Futures Exchange Technology Department, and the China Futures Market Monitoring Center. It is unclear what he thinks about the “difficulty in account cancellation” issue with the two software products under Shenwan Hongyuan Securities.

Shenwan Hongyuan Securities is backed by Shenwan Hongyuan Group, with a large overall scale and strong growth trend. These issues named do not significantly impact the company.

(Editor: Fu Zhen)

Massive information, precise analysis, all on Sina Finance APP