The National Equities Exchange and Quotations Co., Ltd. ("NEEQ") has recently issued the Information Disclosure Guidelines of National Equities Exchange and Quotations on Public Transfer Statements – Environment Improvement Companies and the Information Disclosure Guidelines of National Equities Exchange and Quotations for Listed Companies – Environment Improvement Companies (the "Guidelines"), both of which take effect immediately from the issue date.
The Guidelines provide that, a company shall fully reveal and disclose all major risk factors, such as industrial policy risks and risks caused by the use of a considerable amount of funds for business activities and the tight cash flow, which will have impacts on its business activities, in the part "Warning of Major Events" of its annual report, in view of industry characteristics and its own peculiarities and under the principles of relevance and importance. In the event that the company is engaged, as the major participant, in projects under the public-private-partnership (PPP) mode, it shall disclose details about PPP projects newly launched during the reporting period. Furthermore, the Guidelines explicitly state that, where any significant changes arise to relevant environmental protection policies or subsidy policies adopted by the central or local government for the industry segment the company's business falls in, the company shall promptly disclose information about such changes and their influences on the company.