Administrative Measures For The Information Disclosure Of Listed Companies

Original Language Title: 上市公司信息披露管理办法

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(January 30, 2007, the China Securities Regulatory Commission announced come into force on the date of promulgation, 40th) Chapter I General provisions article in order to regulate issuers, listed companies and information disclosure obligation of information disclosure, strengthening information disclosure management, protecting the legitimate rights and interests of investors, in accordance with the company law and the securities law and other laws and administrative regulations, these measures are formulated.
    Article information disclosure obligations shall be true, accurate, complete and timely disclosure of information, may not have any false record, misleading statement or material omission.
    Information disclosure obligation shall publicly disclose information to all investors simultaneously.
    In the domestic and foreign markets and securities and derivatives information disclosure of listed companies in overseas markets, while in the domestic market should be disclosed.
    Third pedestrian, a listed company directors, supervisors, senior management should be faithfully and diligently perform their duties to ensure disclosure of the information is true, accurate, complete, timely and fair.
    Fourth article in inside information before the disclosure by law, no insider shall not disclose or leak the information, shall not use the information for insider trading.
    Disclosure document the fifth section includes prospectus, prospectus, listing announcement, regular and ad hoc reports, and so on.
    Sixth information disclosure of listed companies and other duties to disclose information according to law, announcements documents and related documents for future reference should be submitted to the stock exchange to register, and the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) the specified media.
    Information disclosure obligations on the company's website and other media published information not before the specified media not to press releases or answering reporters ' questions in any form instead should fulfil the reporting, announcement and shall not be replaced in the form of periodic reports shall perform the obligations of the interim report.
    Seventh information disclosure obligations shall disclose the information notice and the related reference documents submitted to the register of listed companies, securities and Futures Commission, and keep available for public inspection at the company's domicile. Eighth Chinese text of the disclosure document should be used. Using foreign-language texts, information disclosure obligations shall guarantee both the contents of the text.
    Both texts when ambiguities occur, the Chinese text shall prevail.
    Nineth CSRC information disclosure documents and notices, information disclosure management activities monitoring, controlling shareholders and actual controllers of listed companies and the duty to supervise the behavior of information disclosure. Stock Exchange listed company should be monitoring and additional information disclosure obligations to disclose information and urge its timely and accurate disclosure of information in accordance with law, and real-time monitoring of transactions of securities and derivatives.
    Established by the stock exchange listing rules and disclosure rules and other information shall be submitted to the China Securities Regulatory Commission for approval.
    Article tenth of China Securities Regulatory Commission on finance, real estate and other special industries special provisions regulating the information disclosure of listed companies. Chapter II prospectus, prospectus and listing announcement 11th issuer prospectus shall be prepared in accordance with the relevant provisions of the China Securities Regulatory Commission.
    General information for investors to make investment decisions have a significant impact, shall be disclosed in the prospectus.
    Public offering of securities after the application is approved by the China Securities Regulatory Commission, the issuer shall, before issuing the prospectus.
    12th an issuer's directors, supervisors and senior managers, the prospectus shall be confirmed in writing opinions, signed, to ensure that the disclosure of the information is true, accurate and complete.
    The prospectus shall bear the seal of the issuer.
    13th the issuer to apply for an initial public offering of shares, China Securities Regulatory Commission acceptance of the application file, before issuance examination Committee, the issuer should be pre-disclosed prospectus filing is issued on behalf of the China Securities Regulatory Commission website.
    Pre-disclosed prospectus declare drafts are not official documents of the issued shares of the issuer, contain price information, an issuer may not issue shares.
    14th securities issued after the application is approved by the China Securities Regulatory Commission to issue before the end of important matters, issuer's written statement shall be filed with the China Securities Regulatory Commission and the China Securities Regulatory Commission approval, modifying the prospectus or supplement notice accordingly.
    15th application for listing of securities transactions shall be prepared in accordance with stock exchange listing announcement, and after approval by the stock exchange announcement.
    Issuer's directors, supervisors and senior managers, sign the listing announcement should be confirmed in writing, to ensure that the disclosure of the information is true, accurate and complete.
    Listing announcement should be stamped with the seal of the issuer.
    16th prospectus, listing announcement reference sponsor professional advice or report, securities services, which should be the sponsor, the securities issued by service authorities the contents of the file, ensuring that reference sponsor, securities services, opinion will not mislead.
    17th 11th to 16th these measures relate to clause provisions of the prospectus, suitable for corporate bonds prospectus.
    After the 18th in a non-public offering of new shares of listed companies, it shall disclose the release report. 19th chapter third periodic report listed company should disclose the periodic reports, including annual reports, interim reports and quarterly reports.
    General information for investors to make investment decisions have a significant impact, should be disclosed.
    Financial statements in the annual report shall be approved by securities and futures-related business qualifications of audit.
    20th annual report should be within 4 months of the end of each fiscal year, the interim report should be at the end of the first half of each fiscal year within 2 months from the date of quarterly report shall, in each fiscal year the 3rd month, within 1 month after the end of the 9th month of preparation is complete and disclosure.
    Disclosure of the quarterly report for the first quarter on time shall not be earlier than the time of publication of the annual report.
    21st article annual report should records following content: (a) company basic situation; (ii) main accounting data and financial index; (three) company stock, and bonds issued and the changes situation, report final stock, and bonds total, and shareholders total, company Qian 10 big shareholders holding situation; (four) holding 5% above shareholders, and holding shareholders and the actual control people situation; (five) Director, and prison thing, and senior management personnel of served situation, and holding changes situation, and annual paid situation; (six) Board report;
    (G) management's discussion and analysis (VIII) significant events during the reporting period and its impact on companies, (IX) financial accounting report and audit report and (j) other matters prescribed by the CSRC.
    22nd article medium-term report should records following content: (a) company basic situation; (ii) main accounting data and financial index; (three) company stock, and bonds issued and the changes situation, and shareholders total, and company Qian 10 big shareholders holding situation, holding shareholders and the actual control people occurred changes of situation; (four) management layer discussion and analysis; (five) report period within major litigation, and arbitration, major event and the on company of effect; (six) financial accounting report; (seven) China SFC provides of other matters.
    23rd quarterly report shall record the following: (a) the basic situation of the company, (ii) major accounting data and financial indicators and (iii) other matters prescribed by the CSRC.
    24th company directors and senior management personnel shall report in writing on a regular basis to confirm observations, the Board of supervisors shall submit a written opinion, indicate whether the Board preparation and review procedures in line with laws, administrative regulations and the provisions of the China Securities Regulatory Commission, the content of the report is true, accurate, fully reflect the actual situation of listed companies.
    Directors, supervisors and senior managers of the content of periodic reports authenticity, accuracy and completeness cannot be guaranteed or objection and shall state the reasons and comments, and disclosed.
    25th listed companies expected business performance losses or substantial changes should be timely announcements.
    The 26th report before the disclosure of performance on a regular basis disclose either performance rumors and the abnormal fluctuations of securities and derivatives trading, listed companies should promptly disclose relevant financial data of the reporting period.
    27th report regular financial accounting reports are issued by the audit report, Board of Directors of listed companies should address the audit observations related to a specific spell.
    Periodic financial and accounting reports in the report being issued by the non-modified audit opinions, stock exchange considers as suspected illegal, should be brought to the China Securities Regulatory Commission to initiate an investigation.
    28th was not within the prescribed disclosure of listed company annual reports and interim reports, the CSRC shall immediately file inspection, should be dealt with in accordance with the listing rules of the stock exchange.
    29th annual report, interim report and quarterly report format and rules, shall be separately formulated by the CSRC.
    Chapter fourth interim report 30th of listed companies may have a greater effect on the prices of securities and derivatives trading of major events, when unknown investors, listed companies should be disclosed immediately, indicating the cause of the incident, current status and possible impact of.
    Qian paragraph by said major event including: (a) company of business approach and business range of major changes; (ii) company of major investment behavior and major of acquisition property of decided; (three) company made important contract, may on company of assets, and liabilities, and interests and business results produced important effect; (four) company occurred major debt and failed to settlement due major debt of default situation, or occurred large compensation responsibility; (five) company occurred major losses or major loss; (Six) company production business of external conditions occurred of major changes; (seven) company of Director, and 1/3 above prison thing or Manager occurred changes; Chairman or Manager cannot perform duties; (eight) holds company 5% above shares of shareholders or actual control people, its holds shares or control company of situation occurred larger changes; (nine) company reduction funding, and merged, and Division, and dissolved and the application bankruptcy of decided; or law into bankruptcy program, and was ordered close; (ten) involved company of major litigation, and arbitration,
    Shareholders Assembly, and Board resolution was law revoked or declared invalid; (11) company suspected illegal violations was right to organ survey, or by criminal punishment, and major administrative punishment; company director, and prison thing, and senior management personnel suspected illegal disciplinary was right to organ survey or take forced measures; (12) new announced of legal, and regulations, and regulations, and industry policy may on company produced major effect; (13) Board on issued shares or other again financing programme, and equity incentive programme formed related resolution;
    (14) Court ruling ban holding shareholders transfer its by holding shares; any a shareholders by holding company 5% above shares was pledge, and freeze, and judicial auction, and managed, and set trust or was law limit voting; (15) main assets was seized, and seized, and freeze or was mortgage, and pledge; (16) main or all business into pause; (17) foreign provides major guarantees; (18) get large government subsidies, may on company assets, and liabilities, and interests or business results produced major effect of additional returns;
    (19) change in accounting policies, accounting estimates, (20) for information that has been disclosed in the early error, failure to disclose or misrepresentation, is about Office ordered corrective action or by the Board of Directors decided to carry out correct (21) other circumstances as stipulated by the CSRC.
    31st listed companies should be at the first occurrence of any one of the following date, timely fulfilment of disclosure obligations of major events: (a) the Board of directors or the Supervisory Board in respect of the major event to form a resolution, (ii) the interested parties on the significant events signed letters of intent or agreements, (iii) directors, supervisors or senior management is aware of the significant time and report the incident.
    Prescribed in the preceding paragraph appears before the point of any of the following circumstances, a listed company shall timely disclose relevant matters of status, risk factors that may affect developments: (a) the major events to confidential, (ii) the major events had been leaked or rumors in the market, (iii) exception occurred the company's securities and derivatives transactions.
    Article 32nd after publicly traded companies to disclose material events, has been the significant events of disclosure of listed companies may have a greater effect on the prices of securities and derivatives trading of progress or change, progress should be disclosed in a timely manner, possible impacts or changes.
    33rd subsidiaries of listed companies to the way article 30th major events of listed companies may have a greater effect on the prices of securities and derivatives trading, listed companies should comply with information disclosure obligations.
    Listed company joint stock companies may be listed companies have a greater effect on the prices of securities and derivatives trading, listed companies should comply with information disclosure obligations.
    Article 34th listed company acquisition, merger, Division, shares of listed companies, buy back shares and other acts leading the total share capital, shareholders, significant changes in the actual control, information disclosure obligations shall fulfill the reporting, announcement and disclosure of interest changes.
    35th listed companies should pay close attention to the company's securities and derivatives of unusual transactions and media reports about the company.
    Exception securities and derivatives transactions or messages that appear in the media might have on the company's securities and derivatives trading have a significant impact, a listed company shall promptly to the relevant parties understand the real situation and, if necessary, should be based on written information.
    Controlling shareholder, actual control of listed companies and their concerted action should be timely and accurately advised of existence of listed companies to be the transfer of shares, assets restructuring, or other major events, and of information disclosure of listed companies.
    Article 36th of the company's securities and derivatives trading was the China Securities Regulatory Commission deemed unusual transactions or stock exchanges, listed companies should understand the influence factors of abnormal fluctuation of securities and derivatives trading, and timely disclosure. Fifth chapter information disclosure management 37th listed company information disclosure management system should be developed. Information disclosure affairs management system should including: (a) clear listed company should disclosure of information, determine disclosure standard; (ii) not public information of passed, and audit, and disclosure process; (three) information disclosure affairs management sector and head in information disclosure in the of duties; (four) Director and Board, and prison thing and Board of supervisors, and senior management personnel, of report, and considered and disclosure of duties; (five) Director, and prison thing, and senior management personnel perform duties of records and custody system; (six) not public information of confidential measures,
    Insider information insider of range and confidential responsibility; (seven) financial management and accounting of internal control and the supervision mechanism; (eight) foreign released information of application, and audit, and released process; and investors, and securities service institutions, and media, of information communication and system; (nine) information disclosure related file, and information of archives management; (ten) involved subsidiary of information disclosure affairs management and report system; (11) not by provides disclosure information of responsibility held mechanism, on violation provides personnel of processing measures.
    Transaction management system of information disclosure of listed companies shall be subject to review by the Board of Directors of the company, registered securities and Futures Commission and the stock exchange filing.
    The 38th listed company directors, supervisors, senior management should be conscientious, focusing on preparation of disclosure documents to ensure regular reports, interim reports within the prescribed disclosure, with the information disclosure of listed companies and other duties to fulfil disclosure obligations. 39th listed company should develop a periodic report preparation, review, disclosure procedures.
    Manager, in charge of finance, Secretary of the Board of Directors and other senior management officers shall promptly prepare the draft periodic report, drew attention to the Board for consideration; directors served on Secretary of the Board of Directors is responsible for the review; the Chairman shall convene and preside over meetings of the Board for consideration of periodic reports; supervisory board responsible for reviewing periodic reports prepared by the Board of Directors; disclosure of the Secretary of the Board of Directors is responsible for the Organization of periodic reports. 40th listed company should develop a significant event report, delivery, review and disclosure procedures.
    Directors, supervisors and senior management officers in determining when a significant event occurs, shall immediately comply with reporting obligations under the company; Chairman after receiving the report, shall immediately report to the Board of Directors, disclosure of the interim report and urges the Secretary of the Board of Directors organization.
    41st through the performance of listed companies and the like, analyst meetings, road shows, an investor research form on the company's business operations, financial status and other events with any organizations and individuals to communicate, not insider information.
    The 42nd directors should be aware of and concerned with production and management company, the financial situation and the company has occurred or may occur of significant events and their effects, active investigations, obtaining information required for decision-making.
    Article 43rd supervisors to the company directors and senior management to discharge duties to supervise the behavior of information disclosure about company information disclosure, information disclosure violation problems found, shall investigate and put forward recommendations.
    Writing audit observations of the periodic reports issued by the Board of supervisors, should indicate whether the preparation and audit of procedures in line with laws, administrative regulations, the provisions of the China Securities Regulatory Commission, the content of the report is true, accurate, fully reflect the actual situation of listed companies.
    44th senior managers shall timely report to the Board of Directors of the relevant companies operating or financial aspects of a major event, has disclosed the progress of events or changes in circumstances and other related information. 45th Secretary of the Board of Directors is responsible for the Organization and coordination of corporate information disclosure services, bringing together information and report of the Board of Directors of listed companies should be disclosed, sustained attention to media coverage of the company and active verification report the real situation.
    Secretary of the Board of Directors has the right to participate in the general meeting of shareholders, Board of Directors, supervisory board meetings and senior management meetings, right to understand the company's financial and operating information, check out all the files related to information disclosure. Secretary of the Board of Directors is responsible for processing information release of listed companies and other related matters. Apart from the announcement of the Supervisory Board, and listed companies to disclose information is published shall be announced to the Board of Directors.
    Directors, supervisors and senior managers of non-authorized in writing by the Board shall not be public listed companies ' failure to disclose information.
    A listed company shall provide facilities for the Secretary carry out their duties, in charge of Finance shall coordinate with the Secretary of the Board in disclosure of relevant financial information.
    Article 46th shareholders and actual controllers of the listed companies when the following events occur, shall take the initiative to inform the directors of the listed company, and work with the listed company information disclosure obligations.
    (A) holds company 5% above shares of shareholders or actual control people, its holds shares or control company of situation occurred larger changes; (ii) Court ruling ban holding shareholders transfer its by holding shares, any a shareholders by holding company 5% above shares was pledge, and freeze, and judicial auction, and managed, and set trust or was law limit voting; (three) intends on listed company for major assets or business restructuring; (four) China SFC provides of other case.
    Shall disclose information according to law before the disclosure of, information has been in the media spread or the company's securities and derivatives trading anomalies occur, shareholders or the actual controller should be timely and accurately to make a written report of listed companies, and with the timely and accurate announcements of listed companies.
    Public company shareholders and actual controllers shall not abuse its right of shareholders, of a dominant position, shall not require the listed companies to provide inside information.
    The 47th listed company closed stock, its controlling shareholder, actual control and issue shall promptly provide information to listed companies, with the fulfilment of disclosure obligations of listed companies. 48th listed company directors, supervisors, senior management, shares 5% per cent of the shareholders and their concerted action by people, actual controllers should be timely submission to Board of Directors of listed companies listed companies list and description of the relationship. Listed companies should perform the procedure for the consideration of related party transactions, and strict implementation of related transactions to avoid voting system.
    Relationship between associated parties shall not, by concealing or other methods to avoid information disclosure of listed company's related-party transaction review process and obligations.
    The 49th through commissioned or trust listed companies, including more than 5% shares of shareholders or the actual controller, it shall promptly inform the listed company will be the principal, with the fulfilment of disclosure obligations of listed companies.
    50th information disclosure obligations shall give their sponsors, the Securities Services provides all the information associated with the practice, and to ensure that the information is true, accurate and complete, and shall not refuse, conceal, misrepresent. Sponsors, information disclosure of securities services to issue a special document, find information disclosure of listed companies and other duties, of material any false record, misleading statements, material omissions or other major offences, should be required to supplement, correct.
    Information disclosure obligation is not to add, correct, sponsors, the securities service institutions should be registered with the company securities regulatory and stock exchange report. 51st listed company dismissed the accounting firm shall promptly notify the accounting firm after the resolutions of the Board, when shareholders vote on fired the accounting firm of the company, certified public accountants statement should be allowed.
    Shareholders ' resolution of termination and change of accounting firms, listed companies should disclose instructions to replace the specific reasons statements and accounting firm.
    52nd for disclosure obligation to fulfil disclosure obligations special documents issued by the sponsor, securities services, should be conscientious, honest and trustworthy, according to the law of business rules, industry standard of practice and code of ethics published professional opinion issued guarantees the authenticity, accuracy and completeness of the file.
    The 53rd CPA should uphold the concept of risk-oriented audit, strict implementation of CPA guidelines and regulations, improve forensic procedures, selection forensic science methods and techniques, fully understand the forensic unit and its environment, careful attention to material misstatement risks, obtain sufficient, appropriate evidence, reasonable published forensic conclusions.
    54th asset evaluation agencies should abide by professional ethics and strictly comply with the assessment criteria or other evaluation norms, proper select evaluation methods and assumptions contained in the assessment should be realistic, objects to the assessment involved transactions, revenues, expenditures, investments, future prediction business legitimacy to secure sufficient evidence of reliability, consider the full range of likelihood probability of occurrence and their impact, to form a reasonable assessment.
    The 55th article of any institution or individual may illegally procuring, providing, dissemination of insider information of the listed companies, should not be used to get insider information or suggest people buy and sell the company's securities and derivatives, no investment value analysis reports, studies and other documents using insider information.
    56th media should be objective and true coverage of situations involving listed companies, play a watchdog function.
    Any organization or individual may provide or disseminate any false or misleading investors in listed company information.
    Violation of the provisions of the preceding two paragraphs, causes losses to the investor shall bear the liability.
    Sixth chapter of regulatory and liability 57th CSRC can demand information disclosure of listed companies and other duties or its directors, supervisors and senior managers on issues related to information disclosure explained, explanation or to provide relevant information and requires listed companies to provide sponsorship or the professional advice of the security services.
    China Securities Regulatory Commission on securities issued by service authorities and sponsors of the authenticity of the documents, accuracy, integrity, doubt can be asked for authority to interpret, complement, and access to the working papers.
    Information disclosure of listed companies and other duties, sponsors and security service agencies must respond in a timely manner, and with the China Securities Regulatory Commission's inspection, investigation.
    58th listed company directors, supervisors, Senior Manager of corporate information disclosure should be the authenticity, accuracy, completeness, timeliness, fairness and responsible, but there is ample evidence to show that it has performed its due diligence obligation, except.
    Chairman, Manager and Secretary of the Board of Directors of listed companies, information disclosure of the interim report of the company shall be the authenticity, accuracy, completeness, timeliness, fairness, bear the primary responsibility.
    Chairman of listed companies, managers, financial officers responding to the company's financial reporting veracity, accuracy, completeness, timeliness, fairness, bear the primary responsibility.
    59th article information disclosure obligations people and Director, and prison thing, and senior management personnel, listed company of shareholders, and actual control people, and acquisition people and Director, and prison thing, and senior management personnel violation this approach of, China SFC can take following regulatory measures: (a) ordered corrected; (ii) regulatory talk; (three) issued warning letter; (four) will its illegal violations, and not perform public commitment, situation remember into integrity archives and announced; (five) finds for not appropriate candidates; (six) law can take of other regulatory measures. 60th listed company in accordance with this regulation development of management system of information disclosure of listed companies, the China Securities Regulatory Commission ordered corrective action.
    It refuses, the China Securities Regulatory Commission as warning, fine.
    61st information disclosure obligation is not performed within the prescribed disclosure obligations, or information disclosed by any false record, misleading statement or material omission, the CSRC in accordance with section 193th of the securities law penalties.
    62nd information disclosure obligations within the deadlines to submit relevant reports, submit or report any false record, misleading statement or material omission, the CSRC in accordance with section 193th of the securities law penalties.
    63rd by concealing an Association of listed companies or other methods, avoiding disclosure and reporting obligations, the CSRC in accordance with section 193th of the securities law penalties.
    The 64th shareholders of listed companies, actual control failing to work with the listed companies meet disclosure obligations, or require listed companies to provide insider information illegally, the China Securities Regulatory Commission ordered corrective action and give him a warning, fine.
    65th for information disclosure obligation to fulfil disclosure obligations under section special documents issued by the sponsor, securities service institutions and their staff, violated the securities laws and administrative rules and regulations and the provisions of the CSRC, the CSRC shall order correction, regulatory talks, issue a warning letter, credited to the credit file and other regulatory measures should be given administrative punishment, the CSRC punishment according to law.
    66th article of any organizations and individuals leaked inside information of listed companies, or taking advantage of inside information to purchase or sell securities and derivatives, the China Securities Regulatory Commission pursuant to the Securities Act No. 201, No. 202, penalty.
    67th any institutional and individual preparation, dissemination of false information to disrupt the stock markets; media not factual and objective information of the listed companies, China's securities and Futures Commission under the Securities Act No. 206 penalty.
    In securities and derivatives trading activities in the making of false statements or misleading information, the China Securities Regulatory Commission in accordance with Article No. 207 of the securities law penalties.
    68th is alleged to have used news reports of extortion and other forms of communication to listed companies, the China Securities Regulatory Commission ordered corrective action and issued regulatory proposals to the relevant authorities, the relevant departments shall be investigated for legal responsibility according to law.
    69th information disclosure of listed companies and other obligations in violation of the regulations, if the circumstances are serious, the China Securities Regulatory Commission on the persons concerned to take measures for securities market into the.
    The 70th violation of these regulations, suspected of a crime, and transferred to the judicial organs according to law, be held criminally responsible.
    Seventh chapter schedule 71st article this approach following terms of meaning: (a) for information disclosure obligations people perform information disclosure obligations issued special file of sponsor people, and securities service institutions, is refers to for securities issued, and listed, and trading, securities business activities making, and issued sponsor book, and audit report, and assets assessment report, and legal submissions, and financial consultant report, and funding letter rating report, file of sponsor people, and accountants firm, and assets assessment institutions, and lawyer firm, and financial consultant institutions, and funding letter rating institutions.
    (B) timely, refers to the commencement date or touch the point of the disclosure within two days.
    (C) the related transaction of listed companies, is a listed company or its subsidiary and listed company of transfer of resources or obligations between related matters.
    Associated affiliates, including associated legal entities and natural persons. Legal persons with the following circumstances, related bodies corporate for listed companies: 1. the direct or indirect control of the listed company's legal person;
    2. by preceding paragraph by said corporate directly or indirect control of except listed company and holding subsidiary yiwai of corporate; 3. associated natural directly or indirect control of, and or served as Director, and senior management personnel of, except listed company and holding subsidiary yiwai of corporate; 4. holds listed company 5% above shares of corporate or consistent action people; 5. in past 12 months within or according to related agreement arrangements in future December within, exists above case one of of; 6. China SFC, and
    Stock Exchange listed or recognized by the company based on the principle of substance over form other special relations with listed companies, its tilt can cause listed companies or interests legal persons. Has following case one of of natural, for listed company of associated natural: 1. directly or indirect holds listed company 5% above shares of natural; 2. listed company director, and prison thing and the senior management personnel; 3. directly or indirect to control listed company of corporate of Director, and prison thing and the senior management personnel; 4. above 1th, and 2 items by said people of relationship close of family members, including spouse, and parents, and years full 18 age of children and spouse, and brothers sisters and spouse, spouse of parents, and brothers sisters
    , Children and spouses parents 5. over the past 12 months or in accordance with the relevant arrangements in the next 12 months, these circumstances, 6. China Securities Regulatory Commission, the stock exchange listed or recognized by the company based on the principle of substance over form other special relations with listed companies, its tilt can cause listed companies or interests of natural persons.
    (D) specifying the media refers to newspapers and Web sites specified by the CSRC. 72nd these measures come into force on the date of promulgation. Public issued stock company information disclosure implementation rules (pilot) (card prison Shang word [1993]43,), and on stock public issued and listed company information disclosure about matters of notification (card prison Institute word [1993]19,), and on strengthening on listed company temporary report review of notification (card prison Shang word [1996]26,), and on listed company released clarified announcement several problem of notification (card prison Shang word [1996]28,), and Listed company disclosure information electronic archive matters of notification (card prison letter word [1998]50,), and on further strengthening ST, and PT company information disclosure regulatory work of notification (card prison company word [2000]63,), and on intends issued shares of listed company medium-term report about problem of notification (card prison company word [2001]69,), and on listed company temporary announcement and the related annex submitted China SFC sent institutions record of notification (card prison company word [2003]
                                                  7th) repealed simultaneously.

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