Original Title: The Shanghai and Shenzhen Stock Exchange Revised the Quarterly Report Format to Promote the Improvement of the Quality of Listed Companies’ Letters
Our reporter Chang Xiaoyu
In order to effectively link up with the “Securities Law” and “Management Measures for Information Disclosure of Listed Companies” and fully protect investors’ right to know, under the guidance of the China Securities Regulatory Commission, on September 28, the Shanghai and Shenzhen Stock Exchange revised and issued the quarterly report format (the following Referred to as “Quarterly Report Format”).
The Shanghai Stock Exchange has completed the revision of the “Quarterly Report Format”, which has been included as Annex No. 101 of the “Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies-Announcement Format” and “The Information Disclosure Business Guide for Listed Companies on the Science and Technology Innovation Board” No. 3 No.-Daily Information Disclosure, Attachment No. 28, was released to the public. The Shenzhen Stock Exchange revised and issued the “Guidelines for Business Handling of Listed Companies No. 11-Information Disclosure Announcement Format” and “Guidelines for Business Handling of Listed Companies on the Growth Enterprise Market No. 6-Information Disclosure Announcement Format”. The main amendment is to add No. 47 The “Quarterly Report Format” of listed companies further improved the quarterly report system arrangements at the level of business rules.
The quarterly report serves as a staged summary of the operating results and financial status of listed companies, which is conducive to investors in obtaining timely and adequate information required for investment decisions, reducing the information gap between different investment groups in the market, and having a positive effect on the company’s securities pricing and investor decision-making. significance.
The “Quarterly Report Format” released this time is guided by investor needs and follows the principle of importance. The original quarterly report disclosure requirements have been optimized and streamlined, and the main body and full text of the quarterly report have been merged into five parts. The first is the important content reminder, which focuses on the company’s board of directors, the board of supervisors and the directors, supervisors, and senior executives to ensure that the quarterly report is true, accurate, and complete, and fully disclose the disagreements of the directors, supervisors and senior executives; Items and amounts of recurring gains and losses, and analyze and explain the reasons for their major changes (changes more than 30%); third is shareholder information, which lists the total number of shareholders, the top 10 common shareholders and the top 10 preferred shareholders; 4. It is the quarterly financial report, which discloses the comparative financial report, and explains the audit situation; the fifth is other important matters, which is carefully evaluated and listed other important information that helps investors understand the operating conditions.
The “Quarterly Report Format” will come into effect on the day of its release. The preparation and disclosure of the 2021 third quarter report of listed companies shall be governed by the relevant provisions of the “Quarterly Report Format”. At the same time, the directors, supervisors, and senior executives of listed companies should refer to the requirements of the Securities Law and the Measures for the Administration of Information Disclosure of Listed Companies on the performance of their duties and due diligence, and vote on quarterly reports in accordance with laws and regulations, and sign written confirmation opinions.
The Shanghai and Shenzhen Stock Exchange stated that in the next step, in accordance with the unified deployment of the China Securities Regulatory Commission, with information disclosure as the core and investor demand as the guide, it will earnestly perform front-line regulatory responsibilities, and make preparations for the disclosure of quarterly reports in an orderly manner to ensure listing. The company’s quarterly report disclosure has been carried out smoothly, promoted the improvement of the quality of information disclosure and standardized operation of listed companies, and strived to cultivate a group of listed companies that embody the requirements for high-quality development.
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