Original title: Shenzhen Stock Exchange has released eight major measures to support the real economy, increasing holdings and repurchasing, and rational financing of real estate companies are involved!
On the evening of May 4, the Shenzhen Stock Exchange issued the “Notice on Several Measures to Support the Real Economy”, which pointed out that the current coordination of epidemic prevention and control and economic and social development is at a critical stage. According to the work requirements of the CSRC, the Shenzhen Stock Exchange insists on supporting the development of the real economy. . Maintaining the stable operation of the capital market is an important political task to meet the reasonable financing needs of market players. In this regard, the Shenzhen Stock Exchange released eight major measures to maintain the healthy and stable development of the capital market, including supporting market entities to increase their holdings and repurchase, supporting the reasonable financing needs of real estate companies, and supporting listed companies to hold online performance briefings.
“Sacrificing” eight major measures to maintain the steady development of the capital market
On the evening of May 4, the Shenzhen Stock Exchange proposed eight major measures to maintain the steady development of the capital market.
One is to support the healthy development of SMEs. The Shenzhen Stock Exchange stated that it will do its best to provide financing services for small and medium-sized enterprises, support the recovery of production and operation of small and medium-sized enterprises following the epidemic, support “specialized, refined and new” small and medium-sized enterprises to use the capital market to become bigger and stronger, continue to improve the bond financing mechanism for private enterprises, and launch more Innovative products that directly reach the real economy to support the steady and healthy development of small and medium-sized enterprises.
The second is to support the reasonable financing needs of real estate enterprises. Support the normal financing activities of real estate enterprises, allow high-quality real estate enterprises to further expand the use of funds raised by bonds, encourage high-quality real estate enterprises to issue corporate bonds to merge and acquire projects of real estate enterprises in danger, and promote the stable and healthy development of the real estate industry.
The third is to support market entities to increase their holdings and repurchase. Encourage qualified listed companies to repurchase company shares, support major shareholders, directors, supervisors and senior managers to increase their shareholdings in compliance with regulations, and enhance the confidence of all parties in the market.
The fourth is to optimize the operational arrangement of information disclosure business. If the listed company is indeed unable to use EKey to submit information disclosure documents through the Shenzhen Stock Exchange technology platform due to the impact of the epidemic, it may submit it by email or fax. During the epidemic prevention and control period, the direct information disclosure period has been extended to 21:30.
Fifth, allow the use of electronic signatures to handle business. Due to the impact of the epidemic, market entities who cannot uniformly sign or seal when submitting IPO, refinancing, merger and reorganization application documents or information disclosure documents can handle business by providing electronically scanned documents of signature pages, electronic signatures, etc., to improve business. Handling efficiency.
Sixth, support listed companies to hold online performance briefings. Guided by “Ten Breakthroughs and New Developments”, listed companies will be supported to hold 2021 annual performance briefings online. Through the “Cloud Interview” column of the Exchange’s “Easy Interaction” platform, the exchange channel between listed companies and investors is provided free of charge.
Seventh, support listed companies to hold online general meetings of shareholders. Listed companies may hold online general meetings in light of their own circumstances. If lawyers are indeed unable to attend the meeting on-site due to the impact of the epidemic, they can witness the general meeting of shareholders by video or other means. Shareholders of listed companies are encouraged to participate in the meeting through online voting. Companies are allowed to change matters related to the general meeting of shareholders due to the impact of the epidemic, including postponement, cancellation of general meetings, adding temporary proposals, changing locations, etc.
Eighth, strengthen online education services for investors. Continue to carry out investor education and publicity through Internet channels to meet the online learning needs of investors during the epidemic prevention and control period. Support members, fund managers, and options management institutions to actively guide investors to uphold the concept of long-term investment and value investment.
Several initiatives have been highlighted by regulators
Among the above-mentioned measures mentioned by the Shenzhen Stock Exchange, many measures such as supporting market entities to increase their holdings and repurchase have been highlighted by the regulators recently.
On April 11, the official website of the China Securities Regulatory Commission issued the “Notice of the China Securities Regulatory Commission, the State-owned Assets Supervision and Administration Commission, and the All-China Federation of Industry and Commerce on Further Supporting the Healthy Development of Listed Companies” (hereinfollowing referred to as the “Notice”), which pointed out that listed companies are encouraged to repurchase shares for equity use. Incentive and employee stock ownership plans, support eligible listed companies to repurchase to stabilize stock prices, and support listed companies in accordance with the law to raise funds to implement share repurchase through the issuance of preferred shares, bonds and other channels.
In addition, the “Notice” also mentioned that major shareholders, directors, supervisors and senior executives are encouraged to hold the shares of listed companies for a long time, actively stabilize the stock price by increasing their holdings when the company’s stocks have fallen sharply, prudently formulate a reduction plan, and strictly abide by the relevant regulations on reduction. The disclosure, quantity, price, and time requirements of holdings shall be standardized and orderly reduced.
Under the above-mentioned voices, the A-share market has recently increased its holdings and repurchased continuously. For example, on the evening of May 4 alone, several companies such as SAIC Group, Panwei Network, Guoyuan Securities and other companies disclosed their shareholding plan announcements. Among them, SAIC Motor Group’s controlling shareholder, Shanghai Automotive Industry (Group) Co., Ltd. plans to increase its holdings for a relatively high amount. It is planned to increase the shareholding of not less than 1.6 billion yuan and not more than 3.2 billion yuan.
In addition, encouraging listed companies to actively hold annual report performance briefings was also mentioned in the “Notice”.
The “Notice” pointed out that it is necessary to make full use of digital means to innovate communication methods, visually display the company’s operation and performance, improve the interaction effect, and enhance investors’ recognition of the company’s value and business philosophy. In addition, listed companies should be guided to actively manage investor relations, actively speak out through media interviews, website press releases, official accounts and other channels, and respond positively to market hotspots and investor concerns, so as to boost investor confidence.
For real estate enterprises, the “Notice” also mentioned that they should adhere to “housing and not speculating”, support listed real estate enterprises to actively transform into new development models in accordance with laws and regulations, strengthen their own risk management, pay close attention to market conditions and industry changes, and strictly prevent, Properly resolve various risks and promote a virtuous circle and healthy development of the real estate industry.
Independent economist Wang Chikun told the Beijing Business Daily reporter that from the perspective of history, general trend and overall situation, the reform and development of my country’s capital market for more than 30 years has made great achievements, and the scale, quality and governance level have achieved leapfrog development. Development maintained a good momentum. “The fundamentals of my country’s long-term economic growth have not changed. The ecology of the capital market has been continuously optimized. The quality of listed companies and the structure of investors have shown a positive trend. At present and in the future, the development of the capital market is still in a period of important strategic opportunities.” Wang Chikun said .
Beijing Business Daily reporter Ma HuanhuanReturn to Sohu, see more
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