What are the basic requirements for information disclosure for issuance and listing?

Requirements for Listed Companies:

1. ** Approved by the ***** supervision and administration agency has been publicly issued to the public;

2. The total share capital of the company shall not be less than RMB 30 million;

3. The business has been in business for more than three years, and it has been profitable for the last three consecutive years; Where the original state-owned enterprise was established through lawful reconstruction, or was newly established after the implementation of this Law, and its main sponsor is a large or medium-sized state-owned enterprise, it may be counted consecutively;

4. The number of shareholders holding a face value of more than 1,000 yuan shall not be less than 1,000, and the number of shares issued to the public shall reach more than 25% of the total number of shares of the company; If the total share capital of the company exceeds RMB 400 million, the proportion of its public offering of shares to the public shall be more than 10%;

5. The company has no major violations in the past three years, and there are no false records in the financial and accounting reports;

6. Other conditions stipulated in ***.

The basic principles of information disclosure mainly include the following aspects:

1) The principles of truthfulness, accuracy and completeness.

Truthfulness, accuracy and completeness mainly refer to the content of information disclosure. Authenticity is the primary principle of information disclosure, which requires that the information disclosed by the issuer must be objective and true, and the information disclosed must be consistent with the objective facts, and the issuer must ensure that the important events and financial accounting information disclosed have sufficient basis.

The principle of completeness, also known as the principle of adequacy, requires that the information disclosed can ensure that investors form a sufficient sense of investment judgment in terms of quantity and nature.

The principle of accuracy requires that the issuer's disclosure information must accurately express its meaning, the cited financial report and profit report should be audited or audited by an accounting firm with relevant business qualifications, the cited data should provide information, the facts should be sufficient, objective and fair, and the information disclosure document shall not contain any congratulatory, advertising and flattering words.

2) The principle of timeliness.

The principle of timeliness, also known as the principle of timeliness, includes two aspects: first, the statutory period of periodic reporting cannot be exceeded; The second is the timely reporting system of important facts, when the original information changes substantially, the subject responsible for information disclosure should change and supplement it in a timely manner, so that investors can obtain the current true and effective information. There is a timeliness problem with any information, and different information disclosures follow different time rules.

3) The principle of risk disclosure.

In the course of the public prospectus, bond offering measures, listing announcements and continuous information disclosure, the issuer shall briefly disclose the current situation and prospects of the issuer and its industry, market competition and profitability, etc., and briefly explain the relevant risks to investors.

4) The principle of protecting trade secrets.

Trade secrets refer to technical information and experience information that is not known to the public, can bring economic benefits to the right holder, is practical, and has been kept confidential by the right holder. If certain information is indeed disclosed unchanged due to special reasons such as trade secrets, the issuer may apply to the China Securities Regulatory Commission for exemption. Inside information is also a trade secret before it is publicly disclosed, and it should also be protected, and no party shall disclose relevant information in violation of regulations or use such information to seek improper benefits before the issuer's information is made public.

Trade secrets are not subject to the principles of truthfulness, accuracy, completeness and timeliness of information disclosure.

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The basic requirements for information disclosure for issuance and listing are truthfulness, accuracy, completeness, and timeliness.

Information disclosure mainly refers to the public company's public disclosure of the company and company-related information to investors and the public in the form of prospectuses, listing announcements, periodic reports and interim reports. The basic principles of information disclosure mainly include the following aspects:

1. The principle of truthfulness, accuracy and completeness, truthfulness, accuracy and completeness mainly refer to the content of information disclosure;

2. Authenticity is the first principle of information disclosure, authenticity requires that the information disclosed by the issuer must be objective and true, and the disclosed information must be consistent with the objective facts, the issuer must ensure that the important events and financial accounting information disclosed have sufficient basis, the principle of integrity, also known as the principle of adequacy, requires the information disclosed in terms of quantity and nature to ensure that investors form sufficient investment judgment awareness. The principle of accuracy requires that the information disclosed by the issuer must accurately express its meaning;

3. The principle of timeliness mainly includes two aspects, that is, the statutory period of periodic reporting cannot be exceeded and the timely reporting system of important facts, etc., when the original information changes substantially, the subject of information disclosure responsibility should change and supplement in a timely manner, so that investors can obtain the current true and effective information;

4. The principle of risk disclosure, in the process of public prospectus, bond raising measures, listing announcement, and continuous information disclosure, the issuer shall briefly disclose the current situation and prospects of the issuer and its industry, market competition and profitability to the relevant parts, and briefly describe the relevant risks to investors;

5. The principle of protecting trade secrets, which refers to technical information and experience information that is not known to the public, can bring economic benefits to the right holder, is practical, and has been kept confidential by the right holder.

The information that a listed company should disclose includes:

1. The first disclosure of the prospectus, the main ways of the initial information disclosure are the prospectus (applicable to public offerings**), the bond prospectus (applicable to the company's issuance of bonds) and the listing announcement (applicable to ** listing transactions), and the financial statements cited in the prospectus are valid for 6 months after the deadline of the most recent period;

2. Listing announcement;

3. Annual report;

4. Interim report;

5. Quarterly report;

6. Interim report.

Requirements for Listed Companies:

1. ** Approved by the ***** supervision and administration agency has been publicly issued to the public;

2. The total share capital of the company shall not be less than RMB 30 million;

3. The business has been in business for more than three years, and it has been profitable for the last three consecutive years; Where the original state-owned enterprise was established through lawful reconstruction, or was newly established after the implementation of this Law, and its main sponsor is a large or medium-sized state-owned enterprise, it may be counted consecutively;

4. The number of shareholders holding a face value of more than 1,000 yuan shall not be less than 1,000, and the number of shares issued to the public shall reach more than 25% of the total number of shares of the company; If the total share capital of the company exceeds RMB 400 million, the proportion of its public offering of shares to the public shall be more than 10%;

5. The company has no major violations in the past three years, and there are no false records in the financial and accounting reports;

6. Other conditions stipulated in ***.

1. Principles of information disclosure of listed companies.

The principles of information disclosure of listed companies are:

1.The principle of authenticity.

Information disclosure shall be based on objective facts or judgments and opinions with a factual basis, truthfully reflect the objective situation, and must not contain false records or misrepresentations.

2.Accuracy principle.

Clear and appropriate language and concise, easy-to-understand language should be used, and there should be no misleading statements.

3.The principle of completeness.

Completeness means that the content should be complete, the documents should be complete, the format should meet the requirements of the regulations, and there should be no major omissions.

4.The principle of timeliness.

Timely means that all material information should be disclosed within the time limit specified in these Rules.

5.The principle of fairness.

Fairness means that material information should be publicly disclosed to all investors at the same time. If the documents submitted to shareholders, actual controllers or third parties involve material information that has not been disclosed, it shall be reported to the exchange in a timely manner.

2. Information disclosure requirements for listed companies.

The requirements for information disclosure of listed companies are as follows:

1.**With the approval of the ***** management department, it has been publicly issued to the public;

2.The total share capital of the company shall not be less than RMB 30 million;

3.The public offering of shares accounts for more than 25% of the total number of shares of the company; If the total share capital exceeds 400 million yuan, the proportion of public issuance to the public is more than 10%;

4.The company has no major violations in the past three years, and there are no false records in the financial and accounting reports.

3. Information disclosure of anti-mergers and acquisitions of listed companies.

The information disclosure of the anti-merger of listed companies is as follows:

1.The information disclosure of the anti-merger strategy before the anti-merger is mainly related to the information disclosure of the shareholders' meeting and the board of directors of the listed company involved in the formulation of the anti-merger defense strategy.

The information disclosure requirements of listed companies are:

1. The information disclosure obligor shall disclose the information truthfully, accurately, completely and in a timely manner, and shall not have false records, misleading statements or material omissions;

2. The information disclosure obligor shall publicly disclose information to all investors at the same time;

3. The information disclosure obligor shall submit the draft of the information disclosure deficit announcement and relevant reference documents to the securities regulatory bureau of the place where the listed company is registered.

[Legal basis].Article 2 of the Administrative Measures for Information Disclosure of Listed Companies.

The information disclosure obligor shall disclose the information truthfully, accurately, completely, and in a timely manner, and shall not have false records, misleading statements, or material omissions. The information disclosure obligor shall publicly disclose information to all investors at the same time. The information disclosed by a company that issues ** and its derivatives and is listed in the domestic and foreign markets shall be disclosed in the domestic market at the same time.