Shanghai Stock Exchange Deploys Semi-Annual Corporate Bonds Report Disclosure

The Shanghai Stock Exchange (SSE) issued today the "Notice of Doing a Better Job for Disclosing 2011 Semi-annual Corporate Bonds Reports by Issuers" to corporate bonds issuers and their sponsors. It is required in the notice that concerning all the corporate bonds listed on the SSE before June 30, 2011, the disclosure of their semi-annual reports should be completed before August 31, 2011.

According to the notice, any issuer who fails to disclose a semi-annual report of corporate bonds before August 31, 2011 should submit a written explanation to the SSE before August 15 and announce the reasons for disclosure failure and the deadline for the disclosure.

All the issuers should compile, file and disclose the semi-annual report in line with Article 5.2 in the "Corporate Bonds Listing Rules". A semi-annual report should cover the issuer's profile and financial condition in the first half of 2011, the remarks on any breach of the payment of principal and interest of the issued bonds and any risk of failing to repay as scheduled in the future, the remarks on tracking rating of bonds (if any), the significant lawsuits (or the possible ones) that affect the timely bonds repayment and the changes of issued bonds.