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Recently, footing on Information Disclosure Express Pilot Practice, SZSE plans to push forward the overall Information Disclosure Express Practice.
Information Disclosure Express is an innovative method of information disclosure that enables the public companies to summit particular types of announcements to designated media via SZSE technology platform. With the assistant of this mode, public companies may disclosure information without the verification of SZSE in advance. Ever since the launch of pilot practice of SZSE Information Disclosure Express on October 2011, 266 public companies with A Grade appraisal result regarding information disclosure have participated in the Express.
The pilot practice of Express evidently enhanced the efficiency and quality of information disclosure of the piloting companies, most of which indicate that the pilot practice facilitate the public companies to establish the concept of market-oriented operation, strengthen their disclosure obligation and consciousness, and boost the efficiency of disclosure. As the Express reflect the integrity regulation system premium, a lot of companies which are not among piloting companies demand to participate in the Express. The investors also express that the Express not only enables them to acquire the information of public companies more quickly, but also enables them to make investment decision timelier
Currently, as carrying out the overall Information Disclosure Express practice, SZSE expand the scope of companies participating in the Express, and types of announcement. Except for few companies with C or D Grade appraisal results regarding information disclosure for non-standard operation, or poor quality information disclosure, companies with A Grade or B Grade appraisal results may participate in the Express. Companies to participate in Express will cover larger proportion of listed companied, reaching nearly 86% of listed companies. Meanwhile, the types of announcement disclosure via Information Disclosure Express will increase in a proper manner.
Relevant principle from SZSE expressed that Information Disclosure Express is a significant innovative system, and pushing forward it at present stage is an important measure of carrying out the spirit of the 18th National Congress of CPC. The overall advancement of Information Disclosure Express practice will not only nurture the main market body’s market-oriented operation consciousness and capabilities, but also supervise and urge them to fully fulfill their responsibility, forming the market self-binding and self-discipline mechanism. At the same time, the overall advancement of Express will also propel the transformation of supervision methods with information disclosure as the core, and is conductive to improve the pertinence and effectiveness of supervising words.
He also indicates that SZSE increase the public companies internal reexamining procedure in Express, and improve the mechanism of after-the-event verification. In order to protect the rights and interests of investors, SZSE will take appropriate supervising measures in the event of the material misstatement, and wrong choice of announcement types for disclosing important announcement.
At present, SZSE has revised the rules for Express, and carried out the works regarding preparation of training for Express. The amendment will come into force as of February 1, 2013. SZSE will also make adjustment, according the information disclosure appraisal works, to the scopes of companies participated in the Express and the announcement types on regular and irregular basis.
