The China Securities Regulatory Commission notified the on-site inspections of 7 first-issuing companies

  Our reporter Wu Xiaolu

  In January 2021, the Securities Association of China organized and implemented the 28th lottery of the first-issuing enterprise information disclosure quality spot check.

On August 13th, the China Securities Regulatory Commission stated that it has completed the on-site inspection of this batch of IPO companies. The inspection objects include a total of 7 IPO applicants, including 1 on the main board, 3 on the Science and Technology Innovation Board, and 3 on the ChiNext.

  In January 2021, the China Securities Regulatory Commission issued the "Regulations on the On-site Inspection of Initial Issuers" (hereinafter referred to as the "Regulations") to further standardize the on-site inspection of initial companies.

The normalization of initial companies to carry out on-site inspections is an important measure to strictly implement the supervision of the entire chain of IPOs; it is an important starting point for urging intermediary agencies to diligently and prudently practice, and to play the role of “gatekeepers” in the capital market; The securities issuance system with disclosure as the core is an important means to improve the quality of information disclosure.

  The China Securities Regulatory Commission stated that the above-mentioned seven companies were the first batch of inspection targets after the promulgation of the Regulations. During the inspection, the quality of the issuer’s financial information disclosure, doubtful matters, and the practice quality of intermediaries were focused on, and the inspection process focused on the issuer’s key business processes and major issues. Risks and other content.

On the whole, the inspection found no issues that touched the issuance conditions, no major information disclosure violations, and no major practice defects of intermediaries.

Relevant audit work will be promoted normally in the future.

  "The inspection results show that some of the initial companies under review have problems such as improper accounting treatment, insufficient information disclosure, and inadequate implementation of internal control systems, and some intermediaries have insufficient performance procedures and incomplete manuscript records." Said that for the problems found in the inspection, the CSRC will not take administrative supervision measures according to the nature of the problem and the principle of importance in accordance with the law; on the other hand, it will notify the issuer and intermediary agencies of the existing problems, and urge them to improve information disclosure. Quality and practice quality.

  The China Securities Regulatory Commission stated that in the next step, it will continue to promote the issuance review work with information disclosure as the core, normalize on-site inspection work, strengthen overall coordination, and continuously improve the whole-process supervision mechanism, further clarify and unify inspection and processing standards, and clarify that the market is reasonable. expected.

(Securities Daily)