crashkartgame| Big night! Shanghai and Shenzhen Stock Exchanges released!

May 10thCrashkartgameThe Shenzhen and Shanghai Stock Exchange issued a notice of the review meeting of the listing Committee, which is intended to review the enterprises on May 16.CrashkartgameThe application for IPO and listing. Among them, consider one Shenzhen stock market IPO listing application and one Shanghai stock market refinancing application.

Source: official website of Shenzhen and Shanghai Stock Exchange

Further clarify the requirements of plate positioning

The reporter noted that on April 30, the Shanghai and Shenzhen exchanges officially issued nine supporting business rules, including the rules for the examination and approval of stock issuance and listing.

It specifically includes three categories: first, six audit rules for issuance and listing, namely, the rules for the examination of stock issuance and listing, the rules for the examination of major assets reorganization, the management measures of the listing Review Committee and the merger and reorganization Review Committee, the interim provisions on the listing declaration and recommendation of Science and Technology Innovation Board / gem enterprises, and the guidelines for the acceptance of application documents and on-site supervision. The second is a rule of issuing and underwriting, that is, guidelines for issues of concern in investment value research reports. Third, there are two continuous regulatory rules, namely, the listing rules of the main board, Science and Technology Innovation Board and gem.

Among them, the stock listing rules, stock issuance and listing audit rules and other business rules clearly strengthen the strict control of the market entry, improve the financial conditions of each sector listing, further clarify the sector positioning requirements, and strengthen the financial authenticity audit.

Strengthen the examination and approval of issuance and listing

The reporter learned that since the release of policies related to the phased tightening of the IPO rhythm on "August 27" last year, the number of companies in Shenzhen and Shanghai that have submitted registration and obtained registration approval has remained stable on the whole. At the same time, affected by multiple factors, the number of projects submitted to the listing Committee for consideration has decreased compared with the same period last year.

Market participants believe that the meeting of the Shenzhen and Shanghai Municipal Committee is a concrete manifestation of the implementation of the new rules on issuance and listing and the continuous and steady promotion of the examination and approval of issuance and listing.

On the one hand, recently, the Securities Regulatory Commission and the Stock Exchange have successively issued the supporting system rules for the capital market, in which the issuance and listing rules have modified the conditions for issuance and listing on the main board and gem and the plate positioning requirements. After the specific system has been improved, there are more clear standards for smoothly promoting the examination and approval of issuance and listing.

On the other hand, most companies suspended the audit because the financial data in the IPO application documents exceeded the validity period. A few days ago, the reporting enterprises submitted financial data in 2023 one after another and entered the resumption review process. The relevant audit work needs to continue to be promoted in accordance with the rules and regulations.

The reporter learned that the Shenzhen and Shanghai Stock Exchange will conscientiously implement the spirit of the new "National Nine articles" and supporting policy documents, while maintaining the normalization of the issue and listing examination, further strengthen the strict control of the issue and listing examination, resolutely eliminate problem enterprises, and effectively improve the quality of listed companies from the source. In the review and promotion of issuance and listing, we will further handle the relationship between investment and financing, grasp the balance between the primary and secondary markets, strengthen supervision in the whole chain, and put the protection of the legitimate rights and interests of investors, especially medium and small investors, in a more prominent position.