Facing the concerns of investors, the “head” explained the doubts on the spot. This year, the number of performance briefings held by listed companies has made a breakthrough, and annual report performance briefings are becoming “standard”. According to the latest statistics from the China Association of Listed Companies, as of June 30, 2022, a total of 4,490 companies in Shanghai, Shenzhen, and North cities have held performance briefings, with a ratio of about 95.43%. Among them, CSI 300 index companies, “A+H” listed companies, listed companies controlled by central enterprises, companies listed on the Science and Technology Innovation Board, and GEM listed companies were basically held.
The attendance rate of the chairman and general manager is about 98%, and the participation of investors has increased
The degree of participation of the “key minority” is an important measure of the “gold content” of the performance briefing. According to statistics, among the listed companies that have held performance briefings, the attendance rate of the chairman and general manager is about 98%. The thickness and temperature give investors a “sense of gain”. In addition, this year, about 90% of the company’s independent directors in the Shanghai and Shenzhen stock markets participated or attended the performance briefing, helping to improve the level of corporate governance and discussing high-quality development with investors.
According to statistics from mainstream market platforms such as SSE Roadshow, Panorama.com, and China Securities Roadshow, listed companies received a total of 105,371 questions, with a response rate of 92.95% and individual investors accounting for 90.13%. In addition, the Wind platform favored by institutional investors and Oriental Fortune, which is frequently browsed by retail investors, attracted millions of views from investors.
The person in charge of the China Association of Listed Companies said: “Taking the holding of performance briefings as a starting point to strengthen investor relationship management is a move for listed companies to embrace new development concepts and seek innovation. The China Securities Regulatory Commission continues to promote the establishment and improvement of listed companies. Effective ways and long-term mechanisms encourage and guide listed companies to adapt to new changes and new requirements in the new stage.”
The rules and mechanisms have been continuously improved, and the normalization of performance briefings has become a consensus
Efficient investor relationship management is the basic manifestation and external extension of excellent corporate governance. Holding performance briefings is an important measure for listed companies to respond to relevant policies and improve corporate governance in the context of high-quality development.
In October 2020, the “Opinions on Further Improving the Quality of Listed Companies” issued by the State Council clearly stated that it is necessary to establish and improve a good communication mechanism between the board of directors and investors. In December 2020, the China Securities Regulatory Commission launched a special action on the governance of listed companies, focusing on key points, making up for shortcomings, strengths and weaknesses, and improving the overall level of listed company governance.
In 2021, the China Securities Regulatory Commission has clearly launched the overall promotion and deployment of the performance briefings. Through the classification of key companies, by this year, the annual report performance briefings have been basically covered, and the quality and quantity are high. In May of this year, the newly revised “Guidelines for Investor Relations Management of Listed Companies” were implemented, which clarified the new connotations and new requirements for promoting the high-quality holding of performance briefings.
“The holding of the performance briefing is an important epitome of the critical period of the comprehensive deepening reform of the capital market, and it is also an important manifestation of the listed company’s board of directors and the ‘key minority’ paying attention and respecting investors.” The person in charge of the China Association of Listed Companies said that the normalization of holding performance briefings A consensus has been formed, listed companies and investors should interact and communicate more actively, and promote listed companies to establish and improve effective ways and long-term mechanisms to improve quality.
(Editor in charge: Peng Yansong)
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