Beijing Stock Exchange's official website went online for trial operation yesterday
The website contains three content modules in the early stage and will be launched one after another in the future.
In order to respond to market concerns in a timely manner and facilitate market parties to obtain relevant information about the Beijing Stock Exchange (hereinafter referred to as the Beijing Stock Exchange), on September 10, the official website of the Beijing Stock Exchange (website: www.bse.cn) went online for trial operation.
The initial trial run of the official website mainly contained three content modules: First, the business rules module. Currently, it is mainly used as a platform for public consultation on various business rules of the Beijing Stock Exchange and an important channel for various market entities to participate in the formulation of rules.
The second is the investor education module, which provides an official interpretation of the relevant business rules of the Beijing Stock Exchange. It is a learning platform for investors to understand the core essence of the business rules.
The third is the introduction and news section of the exchange, which introduces the basic situation of the Beijing Stock Exchange, and displays important market news and developments in a timely manner. This is an effective way for all kinds of users to quickly obtain the information of the Beijing Stock Exchange.
According to the "Securities Law", the official website of the Beijing Stock Exchange will serve as an information disclosure platform for listed companies on the Beijing Stock Exchange, and an important platform and window for all-round service participants in various markets.
With the continuous advancement of the establishment of the Beijing Stock Exchange and the continuous enrichment of market business, the Beijing Stock Exchange's official website will successively launch the issuance and listing area, the information disclosure of listed companies, the market information disclosure, the release of statistical data, the display of laws and regulations and other content and functions.
In the next step, the Beijing Stock Exchange will adhere to the user experience as the center, continue to improve the overall effectiveness of the website in accordance with the development of market construction, and create an authoritative information platform serving innovative small and medium-sized enterprises.
All parties in the market are welcome to continue to pay attention to and visit the official website of the Beijing Stock Exchange to provide valuable opinions on the layout of the website, information acquisition, and effect presentation.
extend
Jinhao Medical becomes the first selected enterprise
At the 17th review meeting of the selected layer in 2021 held on the 10th, Jinhao Medical (872925) passed the meeting and became the first company to pass the meeting after the establishment of the Beijing Stock Exchange.
Jinhao Medical is mainly engaged in the research and development, production and sales of rehabilitation medical equipment and household medical equipment.
The company's product export areas cover more than 90 countries and regions in the world, including Europe, Asia, and the Americas.
In the first half of this year, the company achieved operating income of RMB 99.72 million and net profit of RMB 11.03 million.
Jinhao Medical was established in 2011 and listed on the NEEQ in September 2018. It is the third batch of specialized and new “little giant” enterprises from the Ministry of Industry and Information Technology.
The company is mainly engaged in the research and development, production and sales of rehabilitation medical equipment and household medical equipment. The main products include hearing aids, atomizers, and anti-decubitus cushions.
In 2020, Jinhao Medical established its subsidiary Chipsea Ling to conduct research, development and design of digital hearing aid chips, becoming the first hearing aid company in China with independent chips and algorithms.
focus on
The second batch of business rules of Beijing Stock Exchange solicits opinions
The longest review of reorganization and listing shall not exceed 3 months
Yesterday, less than a week after the first batch of business rules were publicly solicited for comments, the second batch of business rules was unveiled.
The business rules for this public consultation include the "Beijing Stock Exchange's Public Issuance and Listing of Stocks to Unspecified Qualified Investors (Trial)", "Beijing Stock Exchange's Listed Companies' Securities Issuance and Listing Audit Rules (Trial)", "Beijing Stock Exchange" "Beijing Stock Exchange's Listed Companies' Major Asset Reorganization Review Rules (for Trial Implementation)".
The rules for soliciting opinions this time are the basic rules for the Beijing Stock Exchange to pilot the registration system and perform the audit duties. The overall arrangement is consistent with the Science and Technology Innovation Board and the Growth Enterprise Market.
The longest review of reorganization and listing should not exceed 3 months
It is understood that the above three business rules draw on the experience of the pilot registration system of the Sci-tech Innovation Board and the Growth Enterprise Market, summarize the relevant practices of the early selection of the new third board, and form an institutional arrangement that meets the development laws and needs of innovative small and medium-sized enterprises.
Mainly make provisions on four aspects.
The first is to implement the relevant requirements of the pilot registration system.
Adhere to the audit philosophy centered on information disclosure, urge issuers, listed companies and other information disclosure obligors to improve the quality of information disclosure through audit inquiries and other methods, consolidate the responsibilities of sponsors, independent financial advisors, securities service agencies and related personnel, and guide All market entities return to their positions and fulfill their responsibilities.
The second is to implement the concept of open and transparent review.
The review process, review results, and other key node information, exchange inquiries and other review opinions are fully disclosed to the market, and social supervision is fully accepted.
It stipulates the time limit for various audit work, the longest reorganization and listing audit shall not exceed 3 months, and the longest other audit items shall not exceed 2 months, so as to clarify market expectations.
The third is to clarify the specific review process.
Make specific arrangements for the process of acceptance and review by the review agency, submission to the listing committee or M&A committee for review, the exchange’s issue of review opinions or decisions, and registration with the China Securities Regulatory Commission, to clarify the division of related responsibilities and procedures to ensure the issuance and merger review and registration Work efficiently and orderly.
The fourth is to strengthen self-discipline management.
Further strengthen the accountability of issuers and intermediaries and other relevant entities for violations, refine the violations, and link up with the violation handling in the regulations of the relevant departments of the issuance and registration of the China Securities Regulatory Commission, and the overall requirements are consistent with the Science and Technology Innovation Board and the Growth Enterprise Market.
The validity period of the financial report is extended by 3 months
After the Beijing Stock Exchange piloted the registration system, the "Issuance and Listing Review Rules" has been adjusted and optimized in three parts compared with the self-discipline review arrangement of the select layer.
The first is to clarify the division of work between the exchange review and the registration of the Securities Regulatory Commission.
After this adjustment, the "Issuance and Listing Review Rules" clarified the review functions of exchanges under the registration system. After the Beijing Stock Exchange accepts and approves the application documents, it can be submitted to the China Securities Regulatory Commission to perform the registration procedures, without the need for repeated acceptance by the China Securities Regulatory Commission.
The second is to extend the validity period of financial reports.
The period of validity of the financial statements quoted in the prospectus remains unchanged for 6 months, but under special circumstances, the period for extension can be adjusted from 1 month to 3 months, that is, the period of validity of the financial report is extended from "6+1" to "6+3" ".
The third is to improve the overall requirements for the review time limit.
It is clear that the total time limit for the issuer and the sponsor’s inquiries to reply is 3 months, and the time limit for the listing committee to postpone deliberation is 2 months, to transmit the regulatory signals of timely response and time-limited review, and further clarify the review expectations.
In addition, in order to better serve the continuous financing of innovative SMEs, the "Refinancing Review Rules" has made two targeted institutional arrangements.
One is to match the characteristic mechanism of the upper law.
For self-organized issuances that meet the relevant requirements of the "Regulations for the Registration and Management of Securities Issuance of Listed Companies on the Beijing Stock Exchange (Trial)" (draft for comments), simplify the application materials and filing arrangements; for eligible authorized issuances, set up a fast and convenient Simple review process.
The second is to provide integrated regulations on the review procedures for all types of securities issuance.
In addition to clarifying the review procedures for the issuance of different types of stocks to unspecified qualified investors and to specific targets, the issuance review procedures for securities such as convertible bonds and preferred stocks are also applicable to facilitate market understanding and application.
Efficient and convenient reorganization review mechanism
According to the "Restructuring Audit Rules", the Beijing Stock Exchange has established an efficient and convenient audit mechanism to support listed companies in the use of mergers and acquisitions and reorganization for high-quality development, which are mainly reflected in four aspects:
One is to optimize the reorganization identification standards.
Combining the characteristics of the production and operation of small and medium-sized enterprises, further clarify the specific connotation of "daily business behavior".
The second is to improve the reorganization review mechanism.
Further improve the professionalism, prudence and authority of restructuring review and strengthen risk control.
The third is to clarify the reorganization and listing criteria.
Effectively control the operating risks of assets placed in them, and effectively guarantee the steady improvement of the quality of listed companies.
The fourth is to enrich the means of payment for mergers and acquisitions.
Drawing on the practical experience of the exchange market, it is clear that when listed companies issue preferred stocks, convertible bonds to purchase assets or raise matching funds, the review procedures shall refer to the "Restructuring Review Rules" to enrich payment methods and facilitate market choices.
It is understood that, in response to the work arrangements of the Beijing Stock Exchange in the issuance, listing and financing merger review, the rules for this consultation have established the basic institutional framework for the Beijing Stock Exchange to perform its responsibilities for issuance, listing and financing merger review.
In the next step, the Beijing Stock Exchange will focus on three aspects: formulating supporting business rules, implementing review mechanisms, and coordinating rules transition arrangements, and continue to improve the review mechanism arrangements.
The guarantee project review will not stop, and the issuance rhythm will not be interrupted, realizing a smooth transition from the selection layer to the Beijing Stock Exchange.
This group of articles / our reporter Liu Shenliang
Coordinator/Yu Meiying