On July 8, SZSE issued an announcement on the first review meeting of the ChiNext Board Listing Committee (the “Listing Committee”) to review on July 13, 2020 the IPO applications made by Beijing Fengshang Shiji Culture Media Co., Ltd., Contec Medical Systems Co. Ltd. and LD Intelligent Technology Corp., Ltd. as well as the application by Qingdao Tianneng Heavy Industries Co., Ltd. to issue convertible bonds to unspecified investors.
To ensure the smooth and orderly transition of the issuance and listing review before and after the implementation of the registration-based IPO system, SZSE has, based on CSRC’s review procedures and existing review results for enterprises under review and the review procedures and rules of the registration-based IPO system, duly carry out the review of companies during the transitional period, pursuant to the Notice of China Securities Regulatory Commission on Arrangements for the Transitional Period for Relevant Administrative Licensing Matters before and after the Reform of the ChiNext Board and the Pilot Project of the Registration-based IPO System. For enterprises that have passed the preliminary review of the CSRC with opinions of the preliminary review meeting implemented, SZSE will arrange a meeting of the Listing Committee for deliberation. For enterprises that have passed the preliminary review but which have not implemented the opinions of the preliminary review meeting or have yet to disclose supplementary information, SZSE will ask the issuers and intermediaries to implement the opinions and then arrange a review meeting of the Listing Committee in order. For other enterprises under review, SZSE will concurrently proceed with the review based on the previous review results.
At the same time, SZSE is doing its utmost to accept and review applications newly filed. It will issue the first round of review inquiry within 20 working days from the date of acceptance.
The Listing Committee engages in the issuance and listing review of shares on the ChiNext Board with focus on information disclosure. It deliberates on review reports provided by issuance and listing review institutions and application documents for issuance and listing and puts forward review opinions. Following the Listing Committee’s deliberation, SZSE, based on review opinions of the Listing Committee, decides that the issuer meets the requirements for issuance, listing and information disclosure, or to terminate the issuance and listing review. If SZSE approves the application, the review opinions, application documents for issuance and listing and relevant review documents will be submitted to the CSRC for registration.
Next, SZSE will stick to the market-oriented approach and rule of law as always, uphold the principles of “openness, transparency, integrity and impartiality” and do a good job in organizing the review meeting of the Listing Committee and the issuance and listing review for enterprises under review during the transitional period and new applicants, thereby making every effort to ensure the smooth implementation of the reform of the ChiNext Board and the pilot project of the registration-based IPO system.
