The business is constantly shifting, and the transaction is not suspending, and the “30 Shanghai Stock Exchange” guarantees the stable operation of the capital market
As a city with the largest concentration of financial factor markets and an international financial center city, it is necessary for Shanghai to ensure the efficient and smooth flow of financial “arteries”.
Under the impact of the new round of the epidemic, the security of every transaction and the smooth operation of every second are inseparable from the exchange, the core hub of the market.In this round of war epidemic, ShanghaisecuritiesThe Exchange (“SSE” for short) has taken various measures in a stable and orderly manner to take into account the prevention and control of the epidemic and the stable operation of the capital market.
“Thanks to the Shanghai Stock Exchange for its strong mission and professional attitude at the most severe moment of the epidemic to ensuresecuritiesThe normal conduct of market transactions. “It is reported that JiangyinEka fineElectronic Materials Co., Ltd. (referred to as “”Eka fine”, 603078) is one of the companies that benefited from the Shanghai Stock Exchange’s “30 Rules for the Shanghai Stock Exchange”.
The “Shanghai Stock Exchange 30” refers to the “Notice on Several Measures for Optimizing Self-Regulatory Services in Response to the Epidemic and Further Guaranteeing Market Operation” issued by the Shanghai Stock Exchange on March 27.
It is reported that,Eka finePreviously, it was intensively preparing for the transfer of shares by agreement. Although a new round of epidemics suddenly hit, the Shanghai Stock Exchange released the “30 Rules for the Shanghai Stock Exchange” in a timely manner, and introduced measures such as handling the transfer of shares by agreement through off-site methods, which ensured the smooth progress of the company’s agreement transfer business. .
“Support the development of the real economy, stimulate the vitality of the market, and maintain the stable operation of the capital market.” Jiang Huawei wrote in a thank you letter to the Shanghai Stock Exchange on April 12, “When the flowers bloom and the epidemic ends, all people are united in welcoming the spring. . . . Shanghai will definitely win the tough battle of epidemic prevention and control.”
“Online + Offline” to ensure continuous review and issuance
From the release of the “Notice on Exemption of 2022 Related Fees for Listed Companies in Areas Affected by the Epidemic” on March 16, to the introduction of “30 Rules for the Shanghai Stock Exchange” on March 27, the Shanghai Stock Exchange has become a “Shanghai” watchdog in the past month. The most solid force in the team.
Specific to each link, according to The Paper, in terms of issuance and listing, since March 1, the Shanghai Stock Exchange has normally accepted corporate issuance and underwriting plans through the electronic business system, arranged for 24 companies to launch IPO issuance, and encouraged companies and lead underwriters to conduct IPOs through the Internet, Roadshow promotions are normally carried out by telephone.
At the same time, the Shanghai Stock Exchange also arranges personnel to stay on duty to ensure the safe operation of 25 companies’ online and offline subscriptions and 20 companies’ listing and trading. The 20 companies raised a total of 28.8 billion yuan.
During the review of the Sci-tech Innovation Board, on the one hand, the SSE normally accepts IPOs, refinancings, and major assets of listed companies submitted by issuers and sponsors in accordance with relevant rules.reorganizationand other related applications, and on the other hand, strengthen the relevant guarantees of online communication to ensure that the issuance and listing review process of companies affected by the epidemic is progressing normally.
Taking into account the impact of the epidemic, the “30 Rules for the Shanghai Stock Exchange” also clarifies that if issuers and intermediaries are indeed affected by the epidemic and are unable to respond to review inquiries or complete due diligence within the specified time, they can apply to the Shanghai Stock Exchange and obtain the approval of the Shanghai Stock Exchange. After that, the review will be suspended; during the process of project declaration and response, if it is impossible to make an appointment for on-site communication due to the impact of the epidemic, issuers and intermediaries can apply for online communication and consultation.
Carry out the normal work of bond business
In the bond review and transaction process, since mid-March, which coincides with the peak period of corporate bond acceptance and review, the Shanghai Stock Exchange has overcome various difficulties to accept and review 228 corporate bonds, accounting for nearly 40% of the projects accepted in 2022. During the period, the Shanghai Stock Exchange held 6 online expert meetings, discussed nearly 150 projects, and handled more than 200 filing projects.
Specifically, in accordance with the “30 Rules of the Shanghai Stock Exchange”, the Shanghai Stock Exchange has optimized the bond business services by appropriately extending the time limit for project processing, establishing a green channel for issuance services, and relaxing the reporting requirements such as document signatures.
The “30 Rules for the Shanghai Stock Exchange” clarifies that during the epidemic prevention and control period, the calculation of corporate bonds and asset support will be suspended.securitiesFeedback response time limit and suspension time limit. If the issuer is indeed affected by the epidemic and cannot update the financial report in a timely manner, it may apply to the Stock Exchange for an extension of the validity period.
Considering that the relevant signatures and seals cannot be obtained due to the epidemic situation, the “30 Articles of Shanghai Stock Exchange” also clarifies that the lead underwriter can issue an explanation first, and then submit the signature and seal documents in a timely manner.
In addition, for companies seriously affected by the epidemic, the “30 Rules for the Shanghai Stock Exchange” clarifies that if the funds raised from bonds are used in areas related to epidemic prevention and control or for repayment of mature corporate bonds, a green channel for issuance services shall be established, with immediate review and special issuance. We will do a good job in providing financing services for epidemic prevention and control. On this basis, the SSE also prioritizes review meetings to improve service efficiency.
In addition, the bond business department of the Shanghai Stock Exchange has also set up a special service channel for information disclosure to receive consultation on information disclosure and related businesses involved in this epidemic, and support the current epidemic prevention and control and related information disclosure work.
Use online platforms to provide services to enterprises and investors
“Cloud” tools have played a big role in the Shanghai Stock Exchange’s response to the epidemic.
Newly listed companies have enjoyed the free “cloud listing” ceremony held by the Shanghai Stock Exchange Roadshow Center.
In terms of information disclosure business of listed companies, on the one hand, the Shanghai Stock Exchange makes full use of technological means to realize home office and ensure that various information disclosure businesses of listed companies are not chaotic; Business consulting to help listed companies solve difficult problems in information disclosure.
In addition, the Shanghai Stock Exchange also held online symposiums, telephoneresearchetc., listen to, collect and sort out the opinions and suggestions of listed companies, and earnestly study and issue targeted solutions.
In terms of corporate training, the Corporate Training Department of the Shanghai Stock Exchange closely focuses on the national strategy and major reform tasks of the capital market, overcomes the adverse impact of the epidemic, and actively adopts the combination of “online + offline” to do all kinds of training programs, in order to fully implement the registration system. A solid foundation has been laid for exchange-centric work such as reform, construction of the Science and Technology Innovation Board, high-quality development of listed companies, and product innovation of publicly offered REITs.
In addition, in terms of international business, the Shanghai Stock Exchange makes full use of “cloud exchange” and “cloud service” tools to further strengthen communication and services with various international investors; at the same time, it diversifies the use of online roadshows and online platforms to conduct research for international investors. Listed companies provide facilitation services.
On March 25, the Shanghai Stock Exchange held the online event “International Investors Entering Listed Companies in Shanghai Stock Exchange” to provide convenient services for international investors to investigate listed companies during the special period of epidemic prevention and control. April 7, SSE 2022ETFAnd the online international promotion of indexed investment kicked off, and also actively conveyed the firm attitude of China’s capital market to open to the outside world.
Retrograde station to ensure that the trading business does not stop
The key to the stable operation of various tasks is also inseparable from the work of the smallest operating unit that was quickly launched by the Shanghai Stock Exchange, and the home office support system for other personnel.
It is reported that the 328 personnel of the smallest operation unit of the Shanghai Stock Exchange are strictly enclosed in the data center and office building, effectively protect the epidemic situation, ensure that “the battle will not reduce the number of personnel”, and physically and mentally inject positive energy into “Shanghai”.
In order to ensure the smooth and safe operation of the trading business, the Shanghai Stock Exchange implements closed-loop management of the core personnel of the trading business. On the one hand, the core trading system business operators are organized to be closed at the Jinqiao disaster recovery base, and on the other hand, the minimum business operation team is set up to work at the exchange 24 hours a day. At the same time, measures such as enabling remote office work to ensure the smooth and continuous operation of the transaction business.
In addition, the Shanghai Stock Exchange has a core trading backup team of 50 people.WaigaoqiaoIt also maintains a 10-person “tinder” team among the home office staff to deal with extreme situations; it also strengthens emergency duty and real-time monitoring, and is prepared to deal with emergencies in transaction operations at any time.
In order to ensure that asset securitization financing, infrastructure public offering and REITs financing will not stop, the three employees of the second financing office of the Shanghai Stock Exchange, as the smallest operating unit in the exchange, acted upon the order. Laid off, important work is constantly on file.
During the period, they continued to promote ABS audit work to ensure the normal operation of ABS project acceptance, audit, letter issuance and issuance, and issued no-objection letters for nearly 30 projects; methodically promoted key REITs work, including the sale of China Communications Jiatong REIT project The work, REITs expansion rules and technical preparations, and preparations for the Yangtze River Delta REITs Forum ensure the continuity and stability of all work.
The above-mentioned employees said frankly: “Our duty is not only in response to the work arrangement in the institute, but also in order to adhere to the original mission. This is a glorious and mission-oriented retrograde.”
Thanks to their perseverance, since March 28th, the Shanghai Stock Exchange has been running smoothly and orderly as scheduled, day and night.
(Article source: The Paper)