Everbright Bank's annual report mix-up: data from 40 branches was incorrect

MaticHoleFiller · 2026-04-03T07:47:46+00:00

China Everbright Bank's annual performance announcement released on the Hong Kong Stock Exchange contained serious errors in the asset size data, which differed significantly from the Shanghai Stock Exchange data, affecting multiple branches. Although the bank has stated that this correction does not affect other annual performance information, as of now, the Hong Kong Stock Exchange has not removed the erroneous announcement. The China Securities Regulatory Commission and the Hong Kong Stock Exchange have clear regulations regarding correction procedures.

MaticHoleFiller

2026-04-03 07:47:46

Abstract generation in progress

BEIJING, April 2 (Xinhua News Agency) — After the dividend announcement of Bank of Communications was written incorrectly, Industrial and Commercial Bank of China also caused a data blunder.

On the evening of April 1, Industrial and Commercial Bank of China published an announcement on the Hong Kong Stock Exchange confirming the figures for the asset size of its branch institutions. According to the data in the announcement, Industrial and Commercial Bank of China has changed the figures it previously disclosed on the Hong Kong Stock Exchange. The revised figures remain consistent with the 2025 annual report data released by the Shanghai Stock Exchange.

Screenshot of the Industrial and Commercial Bank of China announcement.

In its correction announcement, Industrial and Commercial Bank of China also stated that the above correction content has no impact on any other materials included in the annual performance announcement. Other than what is disclosed in this announcement, all materials and content contained in the annual performance announcement have not been changed.

Because Industrial and Commercial Bank of China is listed as both A+H shares, it previously disclosed the 《China Industrial and Commercial Bank Co., Ltd. 2025 Annual Report》 on the Shanghai Stock Exchange and the 《2025 Annual Performance Announcement》 on the Hong Kong Stock Exchange.

A reporter from China News Agency compared the two announcements and found that, except for a few branch institutions such as the Beijing branch, Xi’an branch, Sydney branch, and Macau branch where the data are consistent, the asset size figures for 40 branch institutions show major discrepancies.

For example, in the Shanghai Stock Exchange’s 《China Industrial and Commercial Bank Co., Ltd. 2025 Annual Report》, the asset size of the Tianjin branch is 101.325 billion yuan; but in the Hong Kong Stock Exchange’s 《2025 Annual Performance Announcement》, the asset size of the Tianjin branch becomes 59.836 billion yuan. The Shanghai branch is even more outrageous: the asset size figures reported in the two reports are 443.188 billion yuan and 39.54 billion yuan respectively, a difference of more than 10 times.

The left image screenshot is from the Shanghai Stock Exchange’s 《China Industrial and Commercial Bank Co., Ltd. 2025 Annual Report》, and the right image screenshot is from the Hong Kong Stock Exchange’s 《2025 Annual Performance Announcement》.

According to Industrial and Commercial Bank of China’s annual report, the 2025 financial statements were audited separately by KPMG Huazhen Accounting Firm (Special General Partnership) and KPMG Accounting Firm in accordance with China’s auditing standards for certified public accountants and international auditing standards, and they issued audit reports with a standard unqualified opinion.

The reporter noted that as of the evening of April 2, the erroneous annual report on the Hong Kong Stock Exchange had not been withdrawn.

Previously, the CSRC issued 《Rules for the Preparation of Information Disclosure for Public Offering of Securities by Companies No. 19 — Correction of Financial Information and Related Disclosures》, which requires that when financial information errors exist in periodic reports that have already been publicly disclosed, and after the board of directors decides to make corrections, the corrected financial information and other information required to be disclosed under these rules shall be disclosed separately in a timely manner in the form of a temporary report.

At the same time, the Hong Kong Stock Exchange also stipulates that issuers should request in writing that the Hong Kong Exchanges and Clearing Listings Division cancel the documents that have already been uploaded, and explain the reasons for revising the documents and submit the revised version through ESS. The canceled documents will still be uploaded to the website of the Hong Kong Stock Exchange, but the Hong Kong Stock Exchange will mark the document as “Cancelled and Reissued.” When issuers submit the revised version through ESS, they may add the words “Revised” and “(Revised)” in the free-text title field.

It is worth noting that as of the evening of April 2, the Shanghai Stock Exchange had not released a correction announcement at the same time.

According to Article 6 of 《Guidelines for Self-Regulation by Listed Companies of the Shanghai Stock Exchange No. 2 — Management of Information Disclosure Matters (revised in March 2025)》, the information disclosed in overseas markets shall be kept consistent with the content disclosed domestically. In the event of major discrepancies, listed companies and other relevant information disclosure obligors shall explain to this exchange and disclose a correction or supplementary announcement. (End)

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