SFC to work overtime this weekend: start of the first application board

Preliminary statistics are 50~100 companies to prepare for the basic report Lu Yuan the CSRC announced yesterday that July 26, this Sunday to accept the gem issue listing applications, which means formally into the actual combat phase.　　SFC prior to the submission of material situation has been twice, preliminary statistics show that there are 50~100 home enterprises to report the preparation of the application of the gem. Taking into account the 68 sponsoring agencies to prepare for the pioneering board for many years, eager to apply for the first number of landing business board, in order to ensure the smooth and orderly processing, the SFC will be selected in Sunday, the day of application for acceptance of the working hours for 9~17, noon do not rest.　　The relevant department in charge of the SFC said that in order to prevent congestion, for the first day of submission of applications, in the audit schedule no longer distinguish between the acceptance of material time. The Board of Auditors has not yet been established, and the progress of the audit has attracted much attention. The SFC said if the material declaration date is T-day, the SFC will conduct the pre-trial examination to make the decision whether to accept the declaration material or not, t+15 within a working day, will give feedback to the enterprise that formally accepts the issue application, and according to the progress of the enterprise reply feedback, we can determine the progress of the t+5.　　According to the administrative license arrangement, deduct the enterprise to revise the material feedback time, completes the audit one enterprise the time limit is 3 months.　　The SFC has preliminary estimates that the establishment of the Board in August, the first batch of enterprise Board enterprises will be listed at the end of October, early November.　　A sponsor of the President of CBN said that the first day will be submitted to 10 enterprises to launch the Board application, including new energy, materials, bio-veterinary drugs and other industries. The SFC will pay attention to the six High-tech industry application enterprises. Most market participants believe that the gem should highlight the market positioning and plate characteristics, more absorption of new energy, materials, biomedicine, electronic information, environmental protection and energy saving, modern services and other fields of enterprises and other areas of special growth of enterprises and other fields, and in technology, business models of strong innovation,　　Industry rankings by the former and the market share of higher enterprises listed. In the application documents submitted by the issuer of gem, the reporting period for financial information is the last three full fiscal year and the most recent period, and the period of validity of the most recent accounting data in the Prospectus and audit report (date of submission to maturity date) is not less than 3 months.　　This includes earnings for the first half of the year, according to the SEC. According to market opinion, the SFC should revise the draft prospectus guidelines for the gem. Its main contents include: "Risk Factors" section to increase the requirement for the issuer to describe the risk of replacement of technology in accordance with their actual circumstances, as well as the risk of a possible change in control due to a low share of shares dispersed or controlled by the actual controller, or an agreement arrangement between shareholders on equity interests; "Business and Technology" section, To increase the innovation, uniqueness and continuous innovation mechanism of the disclosure of the issuer's business, and to increase the disclosure of core technology is the situation of original innovation, integrated innovation or the introduction of digestion and absorption and innovation; the "future Development and Planning" section supplements the demand for vocalIt is stated that the plan implementation and the goal realization are continuously announced after the listing through periodic reports. The Securities and Futures Commission stressed that the Board application enterprises have no preferential treatment. The company that has applied for listing on the motherboard, in accordance with the conditions of the gem issue and the market positioning of the gem, can choose to apply to the gem issue, but should be in accordance with the regulations of the SEC Administrative License implementation procedure (trial), first withdraw the motherboard issue application, Then according to the relevant provisions of the Gem to perform the board and the General Assembly review procedures, improve the application materials, the implementation of the GEM issue application materials declaration procedures.　　The SFC treats the application of the enterprise as the same as the new applicant, and does not have any special arrangements for acceptance and examination. Recommended to sponsor the Enterprise Board enterprises to recommend the number of families, in the initial stage of the gem will be referred to the motherboard practice, by two sponsor representatives responsible for a gem issuer of the sponsorship work, before the issuer of securities issued, the Securities and Futures Commission is not justified by the sponsor representative for the recommendation of other gem Issuer's securities issuance application. The above Securities and Futures Commission explained that the issuer formally published the prospectus as the subject, if completed then the sponsor representative can recommend the next Enterprise board.