Original title: Innovative layer listed company Gangbao shares received a “yellow card” due to violations of the Beijing Stock Exchange listing letter
Our reporter Chang Xiaoyu
On November 16, the “Securities Daily” reporter learned that the National Equity Exchange Company promptly investigated and dealt with an information disclosure violation case involving the listing of the Beijing Stock Exchange.
It is understood that the National Equities Exchanged Corporation found in its daily supervision that Nangang, the controlling shareholder of the innovative-tier listed company Gangbao, disclosed a plan to spin-off Gangbao shares for listing on the Beijing Stock Exchange. Regarding the above-mentioned major matters, Gangbao did not simultaneously disclose on the official website of the National Equities Exchange and Quotations, which constituted a violation of information disclosure. In order to avoid the above-mentioned violations from adversely affecting the market and damaging the rights and interests of investors, the National Equities Exchange and Quotations immediately adopted supervisory measures, implemented an emergency suspension of trading of Gangbao shares before the opening of the market on November 16, and required the listed companies and the host brokers to make additional disclosures Relevant announcements truthfully explain the specific progress of the incident and fully remind the relevant risks.
On the same day, the National Equities Exchange and Quotations Company adopted self-regulatory measures to issue warning letters and record them in the integrity file database of the securities and futures market in response to the violations of the letter and disclosure of Gangbao Co., Ltd. and its related responsible entities, requiring them to face the problem squarely and effectively fulfill the obligation of information disclosure. , To ensure that the information disclosed by the company is true, accurate, complete, timely, and fair; if it fails to make corrections in time, the National Equities Exchange and Quotations will take strict self-regulatory measures or impose disciplinary sanctions. Guotai Junan, the lead broker of Gangbao shares, failed to urge the company to perform its information disclosure obligations in a timely and fair manner, and continued to supervise it without diligence. The National Equities Exchanged Corporation adopted self-regulatory measures for interviews and written commitments, requiring it to strengthen internal control and Work collaboratively and perform duties in a standardized manner.
He Xiaoyu, chief economist of Zhengxin Investment Group, told the “Securities Daily” reporter, “The above-mentioned innovation-level listed companies have received a’yellow card’ due to violations of credit and disclosure regulations, which fully demonstrates that the regulatory authorities are fully committed to protecting the market, strictly preventing violations of credit disclosure, and maintaining market stability.”
“In addition, the violations of the above-mentioned letter and disclosure have been investigated and dealt with, which also serves as a warning to the host brokerage and other public companies.” He Xiaoyu said.
According to Tian Lihui, Dean of the Financial Development Research Institute of Nankai University, the supervisory authorities adhere to a “zero tolerance” attitude, emphasize fairness, clarify the standardization of information disclosure, and spare no effort to protect the rights and interests of small and medium investors.
“The above-mentioned violations are mainly the result of the irregular behavior of public companies and the imprudent diligence of sponsors.” Tian Lihui said that information disclosure requires not only comprehensive, truthful and accurate content, but also fair, timely and standardized procedures.
Tian Lihui believes that in view of the more market-oriented institutional design of the Beijing Stock Exchange, in the future, the supervisory authorities will not only emphasize information disclosure standards, but also strictly prevent market manipulation and insider trading. At the same time, the Beijing Stock Exchange must better fulfill its market responsibilities, conduct big data supervision, and carry out intelligent supervision.
The National Equities Exchange and Quotations stated that information disclosure is an important basis for investors to make value judgments and investment decisions, and is the cornerstone of the healthy development of the NEEQ. As the first person responsible for information disclosure, listed companies shall strictly abide by the legal principles of truthfulness, accuracy, completeness, timeliness and fairness. The sponsoring securities firm shall improve its business management and give full play to its responsibilities as a “gatekeeper” in the market. Regarding the information disclosure violations of listed companies, the National Equity Exchange Company upholds a “zero tolerance” attitude, resolutely cracks down on it strictly and promptly, and effectively maintains the order and smooth operation of the “three publics” in the market, protects the legitimate rights and interests of investors, and guarantees the standardized development of the market .
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