Chinanews.com, December 30th. According to news from the website of the Shenzhen Stock Exchange on the 30th, in order to better adhere to the positioning of the ChiNext Board and support more high-quality innovative and entrepreneurial companies to issue and list, the Shenzhen Stock Exchange issued a review of the "Shenzhen Stock Exchange ChiNext Board Enterprise Issuance and Listing Application and The "Interim Provisions on Recommendation" have been revised and are now promulgated, and will come into force on the date of promulgation.
The "Interim Regulations on the Issuance and Listing Application and Recommendation of Enterprises on the Growth Enterprise Market of the Shenzhen Stock Exchange" issued on June 12, 2020 will be abolished at the same time.
The revised "Interim Regulations" has a total of 13 articles, 4 more than the original "Interim Regulations", and minor adjustments have been made to some articles.
It mainly includes the following contents:
The first is to clarify the evaluation criteria for growth-type innovative and entrepreneurial enterprises on the GEM, formulate evaluation indicators such as the compound growth rate of R&D investment, the amount of R&D investment, and the compound growth rate of operating income, and exempt qualified enterprises from applying some indicators such as the compound growth rate of operating income (Article three).
The second is to increase relevant industry restrictions in accordance with the requirements of national industrial policies.
Explicitly prohibit industries with overcapacity, eliminated industries in the "Guiding Catalog for Industrial Structure Adjustment", and enterprises engaged in preschool education, subject training, and financial services from being listed on the Growth Enterprise Market
(Article 5).
The third is to further tighten the responsibilities of issuers and intermediaries.
The issuer shall conduct a self-assessment when reporting, and submit a special statement on compliance with the positioning requirements of the GEM.
The sponsor shall conduct due diligence on the matters involved in the issuer's self-assessment and issue special opinions (Articles 7 and 8).
The fourth is to increase information disclosure requirements. The issuer should disclose information in the prospectus on whether it meets the positioning of the GEM (Article 9).
(China New Finance and Economics)
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