Bank annual report shows another "blunder"? Everbright Bank's A and H share annual report data shows a tenfold discrepancy

Ask AI · Does the discrepancy in Everbright Bank’s branch data expose disclosure loopholes?

Everbright Bank’s financial report data deviation issue has attracted market attention. In the 2025 annual reports disclosed by the bank on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, there are significant differences in branch asset scale data. Additionally, according to media reports, the financial report available on the Shanghai Stock Exchange is a replacement version.

Regarding this, a reporter from First Financial contacted Everbright Bank’s investor hotline on the afternoon of April 1 to inquire, but staff stated they were unable to answer media calls and suggested paying attention to whether the bank will make an official announcement about this matter. They also emphasized that they are unsure whether there will be an announcement, do not know the reason for the event, and currently cannot verify the details.

As for whether investors are currently concerned about this issue, the staff said there have been no related calls so far. The reporter attempted to further call the bank’s office for more information, but as of press time, the line was not connected.

The reporter compared and found that the main difference in the annual report data between the Shanghai Stock Exchange and Hong Kong Stock Exchange versions of Everbright Bank lies in the branch part, with notable deviations in branch asset scales. For example, the end-of-period asset scale of Everbright Bank’s Tianjin Branch is 101.33B yuan in the Shanghai version, but only 59.84B yuan in the Hong Kong version; the end-of-period asset scale of Shijiazhuang Branch is 120.27B yuan in the Shanghai version, but 286.7B yuan in the Hong Kong version; the Qingdao Branch’s end-of-period asset scales are 98.01 billion yuan and 443.19B yuan respectively, with a difference of about 4.5 times.

Furthermore, other branches such as Shanghai Branch, Ningbo Branch, and Hangzhou Branch also show large discrepancies in asset scales between the two versions. For example, Shanghai Branch’s asset scale is only 39.54 billion yuan in the Hong Kong version, more than ten times less than the Shanghai version (443.19B yuan). Regarding overseas branches, the asset data for Seoul Branch and Luxembourg Branch in the Shanghai version are consistent with those of Hong Kong Branch and Seoul Branch in the Hong Kong version.

From the summarized data, the total asset scale of branches after aggregation in both versions is consistent, both being 1,339 branches and 6.99 trillion yuan. Comparing with the 2024 annual report data, the Shanghai Stock Exchange version’s annual report data may be the more reasonable version.

Everbright Bank disclosed its 2025 annual report on the evening of March 30. The A-share annual report was prepared according to Chinese Accounting Standards for Business Enterprises, and the H-share annual report was prepared according to International Financial Reporting Standards. Both were audited by KPMG Huazhen LLP (Special General Partnership) and KPMG LLP respectively, and issued standard unqualified opinions. In 2025, the net profit and net assets calculated under Chinese Accounting Standards and IFRS showed no difference.

Currently, the data in Everbright Bank’s A-share and H-share annual reports disclosed on the Shanghai Stock Exchange are consistent, but the H-share annual report on the Hong Kong Stock Exchange still shows a significant deviation. As of press time, Everbright Bank has not issued any explanations or correction announcements regarding this.

(This article is from First Financial)