The Shanghai Stock Exchange (SSE) has decided to add new time intervals of information disclosure on the basis of the existing post-market-closing time intervals of information disclosure on trading days, in a bid to help listed companies timely fulfill information disclosure obligation and elevate information disclosure efficiency. It hereby notifies relevant issues as follows:
1. A time interval (13:00-17:00) of information disclosure on non-trading-days will be added on a single non-trading-day or the last day of continuous non-trading-days. Within this time interval, a listed company may disclose the “Direct Channel” announcements as stipulated in the “SSE Category Index for Announcements on Information Disclosure” (the Index for short), while the “Non-direct-channel” announcements shall not be disclosed.
2. Two time intervals of information disclosure, namely, 07:30-08:30 in the morning and 11:30-12:30 at noon will be added on trading days.
3. If a listed company, for such objective reasons as accident and domestic and foreign time difference, fails to release an announcement within the previous time interval of information disclosure, it may do so on the SSE website (www.sse.com.cn) in the time interval of information disclosure in the morning or that at noon as required by this notice, and publish it on the media designated by the China Securities Regulatory Commission for information disclosure on the next trading day.
4. A listed company may release the following 4 categories of announcements according to the Index in the time interval in the morning on trading days:
(1) Announcement on alert of trading suspension or resumption (3301)
(2) Announcement on clarification and explanation (1002)
(3) Announcement on contract signing (0419)
(4) Announcement on other financing products disclosed due to issuing securities in overseas market (1599)
5. A listed company may release the following 2 categories of announcements according the Index in the time interval at noon on trading days:
(1) Announcement on alert of trading suspension or resumption (3301)
(2) Announcement on clarification and explanation (1002)
6. A listed company should timely report to relevant personnel of the SSE regulatory department for listed companies after submitting an announcement through the information disclosure business management system in the time interval of information disclosure on non-trading-days or in the time interval of information disclosure in the morning or at noon on trading days, and carry out self-check to ensure that the announcement has been released on the SSE website.
If a listed company submits an announcement on alert of trading suspension or resumption (3301) in the category of prior examination in the time interval of information disclosure in the morning or at noon on trading days, it should immediately confirm and release it after the SSE’s examination work is completed.
7. If a listed company releases an announcement on the SSE website in the time interval of information disclosure in the morning or at noon on trading days, the release day should be regarded as the disclosure day.
8. If a listed company with overseas listed shares releases an announcement in the time interval of information disclosure in the morning or at noon on trading days, it should also abide by information disclosure rules in the different places where the shares are listed, so as to guarantee fairness of information disclosure.
9. If a listed company violates the stipulations in this notice or abuses the time interval of information disclosure on non-trading-days, or the time interval of information disclosure in the morning or at noon on trading days, the SSE shall impose regulatory measures or disciplinary sanctions on the company and the liable person concerned according to actual conditions.
10. This notice shall come into force on June 1, 2015.
