.jpg)
1 out of 46 sponsors representing 2.10 percent of total sponsors and 11 out of 332 sponsor representatives accounting for 3.31 percent were appraised to be with inadequate performance by Shenzhen Stock Exchange (SZSE) on 2007 annual sponsor quality check. SZSE has not disclosed name list for the appraisal result up to now.
Principal from SZSE expressed that some sponsors and representatives focus on listing sponsoring and neglect supervision and guidance afterwards, which caused problems such as poor information disclosure and management, non-implementation of inside control, sub-standard operation and etc.
SZSE paid much attention on those problems and started to amend the guidance on sponsoring for companies on small and medium enterprise board (SMEs) and draft criterion and requirements on financing supervision, site research, verification and sponsoring proposals. The guidance specifies every criteria and requirement and provides suggestions to solve difficulties and problems with importance.
SZSE has been giving priority to implementation of sponsor system since establishment of SMEs and has promulgated two notices and other measurements to improve companies’ operation and information disclosure.
The appraisal result showed 97.90 percent of efficiency rate for sponsor and 96.69 percent for sponsor representatives, which indicates the performance of 2007 annual sponsor work to be satisfactory as a whole and sponsors and representatives to be basically responsible.
The appraisal work is based on each sponsor representative as a unit and appraisal indexes of ability for sustainable development, quality of information discourse, regulated operation, and references given by involved listed companies and sponsor institutions where the representative is working as employee.
