Online issuance and subscription of new shares

Online issuance and subscription of new shares:

(1) purchase procedures for online bidding

The specific procedures for online bidding of new shares are as follows:

1. For new stock bidding, the primary dealer must submit an application to the stock exchange with the approval document of the China Securities Regulatory Commission (CSRC) and organize the application after review. The issuer shall, at least two to five working days prior to the implementation of the auction, publish the newspapers and periodicals designated by the China Securities Regulatory Commission and

The prospectus and announcement should be published in the local newspapers and periodicals as required.

2. Unless otherwise expressly prohibited by laws and regulations, any individual or institutional investor holding the stock account of the stock exchange can participate in the bidding for new shares. Investors who have not yet completed the stock account can use the stock exchange registration and settlement institution

And the registration agencies in various regions to pre-register, open a stock account, and deposit sufficient funds for purchase in the securities business department that is approved to run the stock trading business before entrusting the spot price purchase.

3. Investors can subscribe to new stock bidding at the business time of the specified auction issuance day. The way is similar to the ordinary way of delegated stock buying. The purchase price shall not be lower than the reserve price determined by the company, and the subscription amount shall not exceed the limit set forth in the announcement, and each stock account can only be declared once.

4. When applying for a new share auction, the lead underwriter is the only seller. The actual number of new shares to be reported is the actual number of new shares, and the bid is the reserve price.

5. The auction issuance of new shares (I .e., confirmation of subscription) is based on the collective bidding method. That is, the purchase declaration is prioritized by price and time at the same price. When the cumulative valid purchase volume above the declared purchase price reaches the declared sales volume (that is, the actual number of new shares, this price is the issue price. When the purchase Declaration for this price cannot all be met, the transaction is made based on the time priority principle. When the cumulative number of valid tickets does not reach the actual number of new shares, all valid tickets are sold at the reserve price. The remainder of the Application for subscription is handled according to the provisions in the underwriting agreement concluded between the underwriter and the issuer.

6. After the actual issuance price is generated for the matching transaction on the computer host, the system immediately publishes the price to the public through the quote transmission system, and immediately sends the transaction (subscription) return data to each securities business department.

7. fund settlement after the auction issuance of new shares should be included in the daily liquidation and delivery system, the securities registration and settlement institution of the exchange transfers the subscribed amount from the liquidation account of each securities company to the Liquidation Account of the underwriter.

Print the "settlement vouchers for ownership transfer" based on the return of the deal to handle the delivery procedures with investors (purchasers.

8. The registration of new shares after the auction is completed is automatically completed by the computer host after the auction ends. The exchange's securities registration and settlement institution submits the registration information to the lead underwriter and issuer in the form of a floppy disk. Investors who have doubts can hold valid certificates and relevant documents to the securities registration and settlement institution and its agent institution for inquiry.

9. When new stock bidding is adopted, investors only pay the commission fee according to the Regulations, and do not have to pay any commission, transfer fee, stamp duty or other fees.

10. The securities business department participating in the bidding issuance of new shares may charge the underwriter the underwriting service fee based on the proportion of 3.5 ‰ of the actual transaction (subscribed amount). The securities registration and settlement institution of the exchange is responsible for daily disbursement.

(2) purchase procedures for online pricing and distribution

I. The specific principles for online pricing and distribution are as follows:

1. When the total amount of valid subscriptions is equal to the circulation of the stock, the investor subscribes for the stock according to its valid subscriptions.

2. When the total amount of valid subscriptions is less than the circulation of the stock, the investors subscribe the stock according to the valid amount, and the remaining amount is handled according to the underwriting agreement.

3. When the total valid purchase amount is greater than the issuance of the stock, the host of the Stock Exchange will automatically determine a ticket number for each 1000 shares in a sequential order, and then draw lots by lottery, each signature number subscribes for 1000 shares.

II. Specific procedures for online pricing of new shares are as follows:

1. Investors shall deposit the full amount of the subscription into the account specified by the securities business department of the securities exchange connected to the issued securities exchange before the purchase and commission.

2. On the day of purchase (t + 0), investors subscribe to the service and the stock exchange submits the service. During the online subscription period, investors can purchase shares by entrusting them to fill in the order at the issuance price. Once declared, the order cannot be withdrawn. If investors subscribe for multiple times, the first purchase is considered invalid.

Each account must subscribe to no less than 1000 shares, and more than 1000 shares must be an integer multiple of 1000 shares.

The maximum number of subscribed shares in each stock account is 1‰ of the number of public shares issued at the current time.

3. The purchase funds should be recorded on the (t + 1) Day, and the registration and calculation institutions of the Stock Exchange will freeze the purchase funds in the purchase account, if the funds to be subscribed cannot be promptly recorded due to the bank settlement system, the settlement credential for remittance through the electronic bank of China shall be provided on the t + 1 day, and ensure that t + 2 morning subscription funds are recorded. All subscribed funds are centrally frozen in the subaccount of the designated clearing bank.

4. On the second day (t + 2) after the date of purchase, the registration and calculation institution of the stock exchange should cooperate with the lead underwriter and the accounting firm to fund the purchase, in addition, the Chu opera capital verification report of the accounting firm uses the actual funds in place (including the part of the paid vouchers provided by the People's Bank of China according to the Provisions) as the continuous Sn of the effective purchase. The stock exchange transfers the Sn to each stock exchange and publishes the SN through the trading network.

5. On the third day (t + 3) after the date of purchase, the lead underwriter is responsible for organizing lottery drawing and releasing the signing result on that day. The stock exchange performs liquidation and shareholder registration based on the drawing result.

6. On the fourth day (t + 4) after the date of purchase, the unsigned payment will be unfrozen.