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Recently, the serious casualties and property losses in Henan's heavy rains has pulled at the heartstrings of the people across the country. The Shanghai Stock Exchange (SSE) has resolutely implemented General Secretary Xi Jinping's important instructions for flood control and disaster relief. In response to the unified deployment of the Party Committee of the China Securities Regulatory Commission (CSRC), the SSE has taken multiple supportive measures for Henan Province to deal with the catastrophic rains and handle reconstruction, such as cost cuts and exemptions for market entities and optimization of market services.
First, the listed companies registered in Henan Province will be exempted from the initial listing fee and the annual listing fee for 2021. The SSE will arrange the refunds for those whose initial listing fee or annual listing fee for 2021 has been paid in. The move is expected to directly benefit more than 30 companies listed on the SSE main board and the STAR Market that are registered in Henan Province, with cost cuts at nearly RMB1.7 million.
Second, the SSE InfoNet Ltd., a subsidiary of the SSE, will exempt the listed companies registered in Henan Province from the service fee for online voting at the shareholders' meeting in 2021, with a cost reduction roughly estimated at more than RMB200, 000.
Third, the SSE has immediately initiated a donation of RMB10 million to the Henan Charity Federation for flood control and disaster relief, which demonstrated the SSE's efforts to help the disaster areas resume normal production and life as soon as possible.
Fourth, based on the survey on the impacts of the disaster on the listed companies in Henan Province, the SSE worked out a contingency plan for information disclosure so that the disaster-affected companies can smoothly fulfill their information disclosure obligations.
Fifth, relying on the Henan service base of the SSE and giving priority to meeting the needs of the enterprises in Henan, we'll work together with all parties concerned to make concerted efforts in actively serving the Henan-based companies preparing to be listed on the SSE main board or the STAR Market, giving full play to the role of the capital market in speeding up Henan's post-disaster economic recovery and development.
Sixth, relying on the platform of the Shanghai Stock Exchange Foundation, we will actively fulfill social responsibilities and step up the delivery of the RMB1 million public welfare fund for Henan Province this year, assist the rural revitalization of Lankao County, and renew our efforts to help and benefit the people in Henan Province.
