The Shenzhen Stock Exchange ("SZSE") has recently distributed the Memorandum on SME Board Information Disclosure No. 13: Formats of Announcements on Information Disclosure of Listed Companies (Revised on March 23, 2017) (the "Memorandum").
Formats of announcements affixed to the Memorandum are the "guidelines on formats" or "guidelines on formats of announcements" as mentioned in the Share Listing Rules, the Guidelines for the Standardized Operation of Companies Listed on the Small and Medium-Sized Enterprise Board, the Memorandum on SME Board Information Disclosure and others. The Memorandum is comprised of 43 formats on announcements in total. The Format No. 1, headed as the Format on Announcements for Listed Companies' Acquisition or Sale of Assets", for example, covers nine types of regular contents, including the overview of the transaction, basic information on the counterparty, basic information on the object of the transaction, and main stipulations of the transaction agreement. Where there is any major risk on the transaction, or relatively high risks will be caused to the listed company once the deal is concluded, all transaction risks and possible risky factors that are likely to arise to the listed company after the conclusion of the deal, shall be disclosed one by one in the form of "special warning".