The Enterprise Board delisting system is stricter

⊙ Shenzhen Investor Education Center Q: Relative to the motherboard of the board of business suspension system, what improvements? A: There are three main improvements: first, the disclosure of annual reports, performance forecasts and other major issues do not implement one-hour routine suspension; the second is abnormal conditions such as the expected major issues such as the planning stage can not be confidential, the market has rumors and the occurrence of price fluctuations, the company may offer to suspend application or by the Shenzhen stock Trading Direct　　Third, the demand for long-term suspension of the company every 5 trading days must disclose the reasons for suspension and the corresponding progress.　　Q: What are the characteristics of the gem in the delisting system compared to the motherboard? A: Relative to the motherboard of China's gem delisting system more stringent, but also more market-oriented, mainly reflected in the following aspects: first, the direct withdrawal of the market, no longer like the motherboard requirements must enter the agency's share transfer system, the Gem company to implement direct delisting, after the return of the city, if the　　May entrust the organizer to the Chinese Securities Industry Association to propose the transfer of shares in the agent's share transfer system. Second, for the venture board company's risk characteristics, increased more stringent delisting standards, on the basis of the motherboard delisting standards, companies that have the following conditions will also start the delisting process: 1 The Financial accounting report of the audit report issued by the accounting firm or unable to express its opinion, and cannot be eliminated within the stipulated period; 2　　Accounting statements show that the net assets are negative, and can not be eliminated within the specified period of time; 3 the stock of 120 consecutive trading days accumulated turnover of less than 1 million shares, the period cannot be improved. Third, in order to improve the efficiency of market operation, GEM will start the rapid withdrawal of three types of delisting procedures: 1 for companies that do not disclose annual reports or interim reports within the statutory period, the fastest time to retire from six months of the motherboard to three months, and 2 for negative net assets,　　(a) To decide whether to retire after a moratorium on the basis of an interim report rather than an annual report; 3. The Gem Company, which has issued an audit report denying or rejecting an opinion, will decide whether to retire after the listing is based on the interim report rather than the annual report. In addition, in the motherboard market, allow the implementation of the exit risk warning and other special processing companies, after the completion of a major asset reorganization can apply to the exchange for revocation of risk warning or other special treatment.　　The gem has cancelled the relevant regulations.　　Q: What measures has the gem taken to strengthen the supervision of the controlling shareholder and the actual control person? A: Gem, in addition to the same as the motherboard requirements for directors, supervisors, senior management to sign the Declaration and commitment, but also specifically stipulates that the controlling shareholder, the actual controller should be listed in the stock before the listing of "controlling shareholder, the actual controller statement and commitment", to require controlling shareholders, The actual controller strictly fulfills the public statement and the promise: not in any way illegal occupation of the listed company funds or require listed companies to provide security violations, not in any way to damage the legitimate rights and interests of listed companies and other small and medium-sized shareholders; do not disclose significant information, not public companiesTo open important information for profit, strictly comply with the relevant provisions of information disclosure obligations, and actively cooperate with listed companies to do a good job of information disclosure.　　If the controlling shareholder or the actual controller violates the relevant rules of the exchange and the undertakings made by them, the exchange will, depending on the seriousness of the circumstances, give a reprimand or denounce the punishment.　　Q: Gem listing rules for the draft requirements of the gem listed companies must hold annual report to the meeting, is this it? A: Yes.　　The "Gem Stock Listing Rules" (draft) stipulates that listed companies shall hold annual report statements within one months after the annual report is disclosed, to give investors a true and accurate description of the company's development strategy, production and management, new products and new technology development, financial situation and operating performance, investment projects and other aspects of the situation. Prior to this, listed companies should be in the form of announcements in advance of the company's annual report of the holding time, manner and other content to the investors to explain. The text of the annual report notes should be placed on the company website for investors ' reference.