The three major exchanges are fully guaranteed to review the "constant file" registration system under the registration system in the first half of the year.

1Jul

Wen | Wu Xiaolu Meng Ke

On June 30, a reporter from the Securities Daily learned from the Beijing, Shanghai and Shenzhen Exchange that in the first half of the year, the three major exchanges took into account the prevention and control of the epidemic. , Maintain the normalization of IPOs, and solve the problem of "blood transfusion" for the development of the enterprise. Despite the repeated epidemics, the company's listing review has not been affected. According to reporters, in the first half of this year, the Science and Technology Board, GEM and the Shanghai Stock Exchange Shanghai Municipal Party Committee reviewed 192 applications for listing, which was basically the same compared with the same period last year. Chen Li, chief economist of Chuancai Securities, said in an interview with the Securities Daily that under the interview with the Securities Daily that under the epidemic, economic growth was under pressure, and corporate operations were also affected. In the first half of the year, IPO declarations have experienced more withdrawal. In this context, the number of listed companies' review can be the same as that of the same period last year, indicating that the securities regulatory system has increased support in the review work, which helps to speed up the project fundraising into the real economy. Strengthen the three major exchanges of online communication and distribution and listing. The three major exchanges will take into account the prevention and control of the epidemic and the stability of the capital. In March of this year, an epidemic occurred in Shanghai. The Shanghai Stock Exchange responded in a timely manner to start the office in the office and introduced the "Shanghai City 30". According to the relevant person in charge of the Shanghai Stock Exchange, the Shanghai Stock Exchange has strengthened online communication and touched in key areas one by one to ensure that the epidemic affects the normal advancement of the enterprise's issuance and listing review process. On the one hand, if the Shanghai Stock Exchange's normal acceptance of IPOs and re -financing applications, if the impact of the epidemic and cannot make an appointment on the spot, the issuer and intermediary agencies can apply for online communication and consult to ensure that the affected enterprise's issuance and listing of the enterprise will be promoted normally. Since March, as of the end of June, the audit center has held 123 consulting and communication conferences with issuers and intermediaries through online methods. On the other hand, for the affected areas affected by the epidemic, the Shanghai Stock Exchange actively communicates and understands the difficulties of the issuer. It is indeed impossible to reply to the inquiry or complete the due diligence within the prescribed time, and then suspend the review after the Shanghai Stock Exchange consent. According to statistics, as of the end of June since March, the Municipal Party Committee on the Science and Technology Board held a total of 43 review meetings to apply for IPO applications of 54 companies in the "Cloud Review", which is the same as last year. Yuan. In May, the Beijing epidemic was repeated. At the end of May, the Beijing Stock Exchange and the New Third Board launched 24 measures to optimize self -discipline supervision services in accordance with the actual market. The reporter learned from the Beijing Stock Exchange that the Bei Stock Exchange ensures the normal advancement of the Shanghai Municipal Party Committee through video conferences. During the listing review process, the Beijing Stock Exchange implemented the working mechanism of electronicization, no contact, and delivery of delivery, and strengthened the audit department with the issuer, listed company, intermediary agency telephone communication, and online consultation. Serve. If the epidemic affected by the affected areas and industry companies applying for the listing of the Peking Stock Exchange, and the listing of the national stock transfer system, the implementation of a special person, the report, the review, and the posting. According to the relevant person in charge of the Peking Stock Exchange, in the first half of this year, the Municipal Party Committee of the Bei Stock Exchange held 26 "Cloud Review" meetings to review the application for the listing of 31 enterprises to go public. At present, online review is still maintained. On June 24, the Shenzhen Stock Exchange issued 16 actual economic measures to ensure that the epidemic affects the normal development of the company's listing review and strengthen the online communication and consultation guarantee. Including the continued implementation of the listing of nuclear electronics and non -contact reporting, the issuer and intermediary agencies may apply for, reply, online consultation and appointment video conference through the Shenzhen Stock Exchange's issuance of listing review business systems. To ensure the normal advancement of the Municipal Party Committee's meeting through on -site or video conferences. According to public data, the reporter sorted out public data. In the first half of this year, the GEM Municipal Party Committee held 35 review meetings to review the application of 91 enterprise GEM IPO applications. The "cloud review" efficiency is higher and the audit standards are consistent with offline. Although the "exam" is changed to "online", the audit standard has not changed, and at the same time, the audit efficiency is also improving. After two rounds of inquiry and reply, on May 9, the application application of the Beijing Stock Exchange was approved by the Northern Stock Exchange of Youji. The registration was effective on May 25. On June 24, Youji was officially listed. From the application for the listing of Youji to be officially listed, it lasted about 9 months, and the listing review process was compact and efficient. "The entire process of this project adopts remote system declaration, and the application process is smooth. During the feedback reply, we encountered relevant questions and realized efficient and fast communication with the auditors through telephone." Guo Han, co -organized by the UFIC project, told the Securities Daily reporter. "The listing review of the Bei Stock Exchange is constantly polished and upgraded." The relevant person in charge of the Bei Stock Exchange said that it was mainly reflected in two aspects: First, the questioning letter was more clear, and the number of inquiries gradually decreased. In the first round of 2022, the average number of questions inquiries decreased by nearly 30 % compared with 2021. The second is to gradually reflect the tolerance of SMEs. In the trial and listing cases, I have seen tolerant cases such as capitalization of R & D expenditure, information disclosure, personal cards and cash transactions, and shareholders' interest -free borrowings. In terms of innovation attributes, it is not limited to technological innovation represented by specialized and new, and is also recognized for innovation forms such as product innovation and model innovation. Talking about the difference between "cloud review" and offline review, Guo Han said that the advantage of "cloud review" is to achieve a breakthrough in physical distance. It is more friendly for sponsors and issuers. Subjects, review, and process answers are conducted remotely.

At the same time, it is greener and environmentally friendly, convenient to store, and can be accurately left for the process. A large brokerage investment banker told the "Securities Daily" reporter that from a practice point of view, the exchanges are more efficient in "cloud review", but the online and offline audit standards are the same. The issuers who are affected by the epidemic can meet on the distribution of the issuer. According to reporters, 7 of the 192 companies in the meeting during the year were not approved, all of which were IPO companies to be intended to be the GEM; two of the six were temporarily reviewed by the enterprise, 2 plans to log in to the Science and Technology Board, and 4 planned to log in to the Peking Stock Exchange; 1 The family canceled the review and applied for the listing of the Beijing Stock Exchange for the sponsor. The relevant person in charge of the Shanghai Stock Exchange stated that in the second half of the year, the Shanghai Stock Exchange will increase the service supply on the basis of "opening the door -to -door review". Under the "Shanghai City 30" system, the audit work will be improved to precise and high -quality. The relevant person in charge of the Peking Stock Exchange stated that in the future, the Peking Stock Exchange will further optimize the audit mechanism, strengthen internal collaboration of listing, supervision and review, improve the "fast lane" system arrangement of enterprises listed, and promote the in -depth integration of the sponsor team and the in -depth integration of continuous supervision. , Establish a smooth and efficient enterprise to enter the Bei Stock Exchange's development smoothly. Chen Li said that with the continuous advancement of the registration system and the establishment of the Beijing Stock Exchange, the capital market has significantly improved the inclusiveness of SMEs by SMEs. In addition, the current epidemic has been effectively controlled. It is expected that the A -share IPO will be accelerated in the second half of the year. Recommended reading

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Picture ｜ Cui Jianqi Production | Zhang Xin

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