Recently, the Shenzhen Stock Exchange ("SZSE") has issued the Memorandum concerning Information Disclosure on the GEM Board No.2 —— Format of Announcements on Information Disclosure of Listed Companies (Revised in March, 2017) (the "Memorandum").
The Memorandum covers 43 items, including the "format of announcements on listed companies' acquisition or sale of assets", "format of announcements on listed companies' affiliate transactions", "format of announcements on listed companies' dividend payout or conversion into shares". In particular, the format of announcements on listed companies' acquisition or sale of assets requires information from nine perspectives, such as an overview of the transaction, basic information on the counterparty, basic information on the object of the transaction, main stipulations of the transaction agreement, other arrangements relating to the acquisition or sale of assets, purposes of acquiring or transferring the assets and impacts brought thereby on the company, and opinions and comments given and made by the intermediary agency (if applicable). 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".