Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board
Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board
Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board
Announcement of the China Securities Regulatory Commission [2019] No.8
March 7, 2019
The Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board are hereby issued for implementation as of the date of issue.
Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board
Article 1 The Provisions are hereby formulated in accordance with the Securities Law of the People's Republic of China, the Several Opinions on Launching the Pilot Program of Domestically Issuing Stocks or Depository Receipts by Innovative Enterprises (the "Several Opinions"), the Administrative Measures for the Issuance and Trading of Depository Receipts, the Implementing Opinions on the Setting-up of the Science and Technology Innovation Board and the Launch of the Pilot Registration System on the Shanghai Stock Exchange (the "Implementing Opinions") as well as other relevant laws and regulations, with a view to regulating the financial information disclosure of pilot innovative red-chip enterprises ("red-chip enterprises") publicly offering securities and listed on the science and technology innovation board, supporting and guiding red-chip enterprises to develop better and protecting the legitimate rights and interests of red-chip enterprises and investors.
Article 2 For the purpose of the Provisions, red-chip enterprises refer to pilot innovative red-chip enterprises publicly offering stocks or depository receipts or listed on the science and technology innovation board upon review and registration by the Shanghai Stock Exchange ("SSE") and the China Securities Regulatory Commission ("CSRC") and in accordance with the Several Opinions, the Implementing Opinions and other provisions.
Article 3 Where a red-chip enterprise publicly offering stocks or depository receipts and listed within the territory of China discloses its annual financial report, a red-chip enterprise initially offering stocks or depository receipts declares its financial statements, or a red-chip enterprise needs to disclose relevant financial information by reference to its annual financial report, the Provisions and other relevant provisions shall be followed.
Article 4 The information in financial statements disclosed by a red-chip enterprise may be prepared according to the Chinese Accounting Standards for Business Enterprises or the accounting standards equivalent to the Chinese Accounting Standards for Business Enterprises as recognized by the Ministry of Finance (the "equivalent accounting standards"), or be prepared as per the International Financial Reporting Standards or the accounting standards of the USA (the "overseas accounting standards"), with the information of reconciliation made according to the Chinese Accounting Standards for Business Enterprises provided.
Under the information in financial statements disclosed, a red-chip enterprise shall define the accounting standards adopted by it.
......
Announcement of the China Securities Regulatory Commission [2019] No.8
March 7, 2019
The Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board are hereby issued for implementation as of the date of issue.
Rules for the Information Disclosure and Compilation of Companies Publicly Offering Securities No.24 -- Special Provisions on the Information in Financial Statements of Pilot Innovative Red-chip Enterprises on the Science and Technology Innovation Board
Article 1 The Provisions are hereby formulated in accordance with the Securities Law of the People's Republic of China, the Several Opinions on Launching the Pilot Program of Domestically Issuing Stocks or Depository Receipts by Innovative Enterprises (the "Several Opinions"), the Administrative Measures for the Issuance and Trading of Depository Receipts, the Implementing Opinions on the Setting-up of the Science and Technology Innovation Board and the Launch of the Pilot Registration System on the Shanghai Stock Exchange (the "Implementing Opinions") as well as other relevant laws and regulations, with a view to regulating the financial information disclosure of pilot innovative red-chip enterprises ("red-chip enterprises") publicly offering securities and listed on the science and technology innovation board, supporting and guiding red-chip enterprises to develop better and protecting the legitimate rights and interests of red-chip enterprises and investors.
Article 2 For the purpose of the Provisions, red-chip enterprises refer to pilot innovative red-chip enterprises publicly offering stocks or depository receipts or listed on the science and technology innovation board upon review and registration by the Shanghai Stock Exchange ("SSE") and the China Securities Regulatory Commission ("CSRC") and in accordance with the Several Opinions, the Implementing Opinions and other provisions.
Article 3 Where a red-chip enterprise publicly offering stocks or depository receipts and listed within the territory of China discloses its annual financial report, a red-chip enterprise initially offering stocks or depository receipts declares its financial statements, or a red-chip enterprise needs to disclose relevant financial information by reference to its annual financial report, the Provisions and other relevant provisions shall be followed.
Article 4 The information in financial statements disclosed by a red-chip enterprise may be prepared according to the Chinese Accounting Standards for Business Enterprises or the accounting standards equivalent to the Chinese Accounting Standards for Business Enterprises as recognized by the Ministry of Finance (the "equivalent accounting standards"), or be prepared as per the International Financial Reporting Standards or the accounting standards of the USA (the "overseas accounting standards"), with the information of reconciliation made according to the Chinese Accounting Standards for Business Enterprises provided.
Under the information in financial statements disclosed, a red-chip enterprise shall define the accounting standards adopted by it.
......