China – SZSE Industry Disclosure Guidelines

China – SZSE Industry Disclosure Guidelines

On 27 October 2019, SZSE revised industry information disclosure guidelines.

  • SZSE revised and issued 18 industry information disclosure guidelines as part of implementing the "disclosure-oriented" regulatory concept in the capital market.
  • In formulating guidelines, SZSE consulted and received feedback from hundreds of companies, held forums and face-to-face discussions to gather market consensus.
  • Also assessed the implementation of the existing 22 guidelines; results were positive.

Revised Content

  • SZSE has revised and released 18 industry guidelines, including 10 GEM industry guidelines and 8 general industry guidelines, which focus on four key characteristics.
  • Adhere to principle of market-based legalization and improve the adaptability of rules.
  • Uphold the concept of supervision and development, and optimize terms as needed.
  • Balance cost and effectiveness of information disclosure, and reduce burden on firms.
  • Enhance the accuracy of disclosure, and strengthen disclosure and risk requirements.

Implementation Plan

  • Ensure companies understand industry guidelines well, by conducting secretarial training, regular report training, and publicizing outstanding cases in annual reports.
  • Continue to track implementation of industry guidelines; urge listed companies to strengthen disclosure through intensive inquiry and requesting additional disclosures.
  • Strengthen industry information disclosure rules system and improve foundations.

Industry Guides

  • Guide no. 1 - Listed companies engaged in livestock and aquaculture.
  • Guide no. 2 - Listed companies engaged in solid mineral resources.
  • Guide no. 3 - Listed companies engaged in real estate business.
  • Guide no. 5 - Listed companies engaged in construction machinery.
  • Guide no. 6 - Listed companies engaged in renovation and interior design.
  • Guide no. 7 - Listed companies engaged in civil engineering and construction.
  • Guide no. 8 - Listed companies engaged in retail.
  • Guide no. 9 - Listed companies engaged in courier and delivery.

GEM Board Guides

  • Guide no. 1 - Listed companies engaged in film and television business.
  • Guide no. 2 - Listed companies engaged in pharmaceutical and biological products.
  • Guide no. 3 - Listed companies engaged in photovoltaic production and supply chain.
  • Guide no. 4 - Listed companies engaged in energy conservation and environmental protection services.
  • Guide no. 5 - Listed companies engaged in internet games.
  • Guide no. 6 - Listed companies engaged in internet videos.
  • Guide no. 7 - Listed companies engaged in e-commerce.
  • Guide no. 8 - Listed companies engaged in internet marketing and data services.
  • Guide no. 9 - Listed companies engaged in LED production and supply chain.
  • Guide no. 10 - Listed companies engaged in medical device business.